Bitcoin (BTC) has time-and-again proved that it is the ultimate saviour of the world against the inefficient fiat systems and government agencies. Over the last week, the Turkish Lira plunged another 14% against the U.S. Dollar which resulted in Turks searching for Bitcoin (BTC) in order to protect their wealth.
Over the last weekend, Google searches for Bitcoin (BTC) in Turkey shot up to the roof almost doubling as we can see a sharp spike in the chart below.
Turkish Lira fell 14% against the US Dollar today.
Google searches of “Bitcoin” doubled today. pic.twitter.com/yS4CHn4iHr
— Documenting Bitcoin (@DocumentingBTC) March 22, 2021
With the way that Bitcoin (BTC) has performed over the last few months, the trust in the world’s largest cryptocurrency is also building up strongly. At press time, Bitcoin is trading at a price of $57,783 with a market cap of $1.078 trillion. With this, Bitcoin (BTC) has cemented its position strongly thereby being the world’s third-largest currency in terms of the total value in circulation, notes Deutsche Bank in its latest published report.
Courtesy: BloombergDeutsche Bank: Bitcoin (BTC) Too Important to Ignore
Deutsche Bank acknowledged that even government institutions and central bank institutions have started acknowledging the role of cryptocurrencies and accepted the fact that they are here to stay. In the report, Deutsche Bank research analyst Marion Laboure, Ph.D. writes:
“Bitcoin’s market cap of $1 trillion makes it too important to ignore. As long as asset managers and companies continue to enter the market, …
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