Michael Seilor saw in Bitcoin “Hope” for Lebanon

The former head of Microstrategy Michael Sailor called the first cryptocurrency “Nadezhda” for Lebanon, whose national currency fell 96% to the US dollar.

#Bitcoin is Hope for #LEBANON, WERE THE CURRENCY HAS LOST 96% of Its Value VS Usd and the Banks Have Failed.https: // t.CO/DKKRC4ZGY

– Michael Saylor⚡️ (@saylor) November 5, 2022

As a confirmation of his words, Sailor referred to an article by CNBC about the hyperinlalfiction in Lebanon.

Journalists talked about the local resident Georgio Abu Jebraele, who is engaged in freelance and uses bitcoin to receive payment of his services and accumulation. He explained that if he had withdrawn US dollars at the bank, he received Lebanese pounds at a disadvantage rate and lost about half of his earned.

According to CNBC, the local currency fell by more than 95% since August 2019, inflation reached a three -digit level, and the minimum salary decreased from $ 450 to $ 17.

Local residents see a “rescue circle” in cryptocurrencies, write in the publication. Mining replaced some of them full work.

“Bitcoin really gave us hope. I was born in my village, I lived here all my life, and Bitcoin helped me stay here, ”said Jebrael.

Michael Seilor is a famous supporter of bitcoin. He calls the first cryptocurrency the most reliable thing in an unstable world and a global backup asset.

Despite the fall in Bitcoin’s price, Saylor emphasized https://gagarin.news/news/ethereum-2-0-why-is-the-merger-so-important-and-what-to-expect-from-it/ that Microstrategy does not plan to eliminate its cryptocurrency reserves and continue to move even under poor conditions in the market.

Recall that in September, Seilor predicted a new maximum of bitcoin for four years.

Earlier, he criticized the digital currency of the central banks for instability and doubted their success.

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