IMF: Bitcoin (BTC) is More Popular in Countries with High Inflation!

Inflation increases increase interest in crypto assets.

Residents of countries with restrictive financial regulations are increasingly turning to the leading cryptocurrency Bitcoin (BTC) to securely conduct cross-border transactions, experts from the International Monetary Fund (IMF) said.

In countries with high inflation, Bitcoin serves as a means of preserving wealth and making payments. Residents of developing countries use BTC to bypass capital controls of traditional banking systems and financial authorities.

Sharing that people use BTC more especially in regions where they experience economic difficulties, IMF experts included the following words in the report on the subject:

“Bitcoin (BTC) transactions offer people in high-inflation countries the opportunity to stabilize savings and participate in global trade on terms not possible with local currencies.

However, the lack of surveillance and anonymity provided by Bitcoin further complicates regulators' efforts to monitor and control transactions to prevent illegal activities such as money laundering.”

According to the data shared by Statista, it is positioned as the fourth country in the list of countries with the largest cryptocurrency transaction value. The number of users making crypto transactions in Turkey is expected to exceed 15.25 million by 2028.