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Turkish Lira implodes, as Bitcoin and dollar appreciate against it

Even with BTC down 8% against the dollar in the past month, it is up against the Turkish Lira

James Van Straten
Jun. 7, 2023 at 11:34 am UTC
1 min read
Updated: Jun. 7, 2023 at 3:32 pm UTC

Quick Take

  • The Turkish Lira continues to collapse against the dollar (23.5) lira to a dollar.
  • Roughly ten years ago, it was one lira to one dollar.
  • The Turkish Lira experienced a 6% plus depreciation, according to Mohamed A. El-Eria, dwindling international reserves.
  • In the past five days, the USD is up 12%, while Bitcoin is up 7%, even with Bitcoin down 8% in USD terms this past month.
Turkish Lira: (Source: TV)
Turkish Lira: (Source: TV)
Analyst View profile
James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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