CandleFocus High inflation vs regional conflict: Which leads to higher adoption of Bitcoin and crypto?
2024-10-08
Author: Content Editor
Recent analyses have found a strong correlation between rising inflation rates and increased crypto adoption worldwide. Countries facing high inflation, such as Argentina, Turkey, and Venezuela, are experiencing a surge in crypto usage as people seek alternatives to devaluing national currencies. Data shows that countries with high inflation rates also have higher rates of crypto ownership. Inflation appears to be a stronger predictor of crypto usage than political unrest, suggesting that economic stability plays a crucial role in driving crypto adoption. While there are other factors at play, such as technological adoption and remittance flows, high inflation is emerging as a critical driver in the adoption of cryptocurrencies.
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