Posted 2/2/2024, 8:17:09 AM
Bitcoin Emerges as Lifeline in Lebanon's Economic Crisis
- Lebanon faces an economic crisis - currency collapsed, widespread corruption, banking turmoil
- Bitcoin offers an alternative - transparency, decentralization mitigates risk of policies devaluing currency
- 2019 protests over proposed taxes sparked bank closures, trapping people's funds
- Bitcoin provides hedge against rampant inflation, way to circumvent capital controls
- Initiatives like Rebirth Beirut now taking bitcoin donations to fund rebuilding efforts