Crypto mania swept Turkey as investors sought to shield their savings against inflation. Then two exchanges collapsed.
Istanbul, Turkey – Hulya Ozkal thought she was investing wisely when she ploughed her savings into Bitcoin.
“Maybe it wasn’t millions but I saved half a Bitcoin for the future,” the 65-year old pensioner told Al Jazeera. In most circumstances, that bet would be paying off handsomely this year. One Bitcoin was worth just over $29,000 at the open of 2021, according to Coinbase, soaring to a high of nearly $65,000 last month before giving back some of those gains to currently trade above $55,000.
Meanwhile, the Turkish lira has plummeted more than 10 percent in value against the US dollar since the beginning of January.
Ozkal, who ran a beauty salon and other businesses, said her crypto holdings were worth roughly 279,000 lira (around $33,600). But she fears those assets are now lost forever. .Source: aljazeera.com
Tuesday, April 21, 2026
