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

[Tnoy30]

A deepening monetary crisis has seen Lebanon’s national currency plummet a further 50% over the last ten days to reach parity with a single 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.

On June 21, Ammous noted that “Ten years ago, one Lebanese lira was worth 0.67 Bitcoin.”
Read on: https://cointelegraph.com/news/lebanese-pound-falls-50-in-ten-days-now-worth-one-satoshi

[TomPluz]

The economy of Lebanon is not doing well and it can take a while before its economic managers can be able to come up with solid and permanent solutions to the woes the country is experiencing. I am sure there can be more devaluation of its official currency. If I am based in Lebanon, I better buy some Bitcoin to protect my wealth.