$BTC $XRP $BNB Economist Mahfi Eğilmez Urges Caution on Bank Deposits Amid High Inflation in Türkiye
Renowned economist Mahfi Eğilmez has sounded a cautionary note on traditional banking in Türkiye. In response to recent statements on TV, Eğilmez emphasized the importance of understanding the impact of inflation on interest rates.
"Just now, someone said on a TV channel that if a person with 1 million TL in Türkiye deposits money into the bank at 42% for one year, he will earn 420,000 TL interest annually, and there is no need to invest. Inflation in Türkiye is 65%, with 42% interest, you will lose money, let alone make money. Learn some calculations, friends," stated Eğilmez.
In light of these considerations, Eğilmez highlights Bitcoin as a potential solution. The decentralized nature of cryptocurrencies like Bitcoin provides an alternative avenue for preserving wealth in the face of high inflation.
