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The price of Bitcoin (BTC) has notched new all-time highs against some of the world’s most inflationary fiat currencies.
Across 30 hours over Oct. 23 to 24, the cost of buying one Bitcoin has reached all time-highs when using the Argentine peso (ARS), Nigerian naira (NGN), Turkish lira (TRY), Laotian kip (LAK) and the Egyptian pound (EGT).
#Bitcoin just hit an all-time high in Argentina, Turkey and Nigeria. pic.twitter.com/sKRNUaBMX8
— Miles Deutscher (@milesdeutscher) October 26, 2023
However, it should be noted that the result is due to the ongoing devaluation of the currencies, exacerbated by Bitcoin’s recent 16% price increase.
NGN and TRY fell to their lowest points against…
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