Will Turkey Follow El Salvador to Legalize Bitcoin (BTC) Tender?
El Salvador’s President Nayib Bukele arrived in Turkey Thursday to meet President Recep Tayyip Erdoğan in a bid to foster alliance and investment in the Central American country.
Just before arriving Bukele had tweeted, “This Thursday, on a State Visit, I’ll hold a meeting with Recep Tayyip Erdoğan, President of Turkey.”
Speculations and memes started arriving on Twitter asking the Turkey President if he intends to follow El Salvador’s path on Bitcoin!
El Salvador President: Greetings from El Salvador, the land of #Bitcoin, to all of Turkey.
President @NayibBukele is meeting Turkey’s President today. #Bitcoin ?
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) January 20, 2022
Turkey keeps interest rates unchanged.
Interestingly, Turkey’s central bank kept its benchmark interest rate untouched, pausing an easing cycle that had helped propel inflation to its highest level since the beginning of President Recep Tayyip Erdogan’s rule.
The country’s Central bank held key rate at 14%, in line with forecasts. signaling more gradual easing in 2022 as the economy adjusts to the situation.
CoinGape had reported earlier in an article titled, “Turkey seeks to implement the crypto law “as soon as possible” briefing the latest update in Turkey’s upcoming crypto law.
The meeting between the two presidents will take place in Ankara on Thursday and Friday.
Describing the president’s visit, the Salvadoran government released a statement, “El Salvador has explored opportunities for Turkish firms to invest in El Salvador, specifically in energy and tourism, setting out the advantages of the coastal strategy known as Surf City.”
It will be interesting to see the outcome of the meeting considering the speculations surrounding the country’s bitcoin policies.