imageCryptocurrency7 hours ago (Jul 02, 2020 02:20AM ET)

Lebanese Pound Falls 50% in Ten Days — Now Worth One Satoshi

Lebanon’s national currency continues to shed value amid the country’s deepening monetary crisis, with unofficial reports indicating that the Lebanese pound, or lira, has lost 50% of its purchasing power in less than two weeks.

On July 2, local crypto advocate Saifedean Ammous, author of The Bitcoin Standard, took to Twitter to assert that after “having lost half its value in the last 10 days, the Lebanese lira is now worth one satoshi” — comprising a historic low for the currency of roughly $0.000093.

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Lebanese Pound Falls 50% in Ten Days — Now Worth One Satoshi

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