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The President of Turkey is a Supporter of Cryptocurrency and the Metaverse

With rising popularity of cryptocurrency trading and people buying crypto, crypto market investment has drawn Recep Tayyip Erdoan attention. Apparently, Turkey’s president is now more supportive of cryptocurrencies, despite the national Lira's sharp depreciation in recent years. Turkey's high inflation has wreaked havoc on the country, and any cryptocurrency broker or cryptocurrency expert could say that Bitcoin might help the country overcome its long-standing inflation problems.

Erdoan recently met with El Salvador's president, Nayib Bukele, to explore cryptocurrency's possibilities. Despite his history of opposition to digital assets, including a prohibition on cryptocurrencies in Turkey, Turkish President Recep Tayyip Erdogan has directed AK Party members to explore blockchain and cryptocurrency. The Turkish Central Bank had earlier argued that cryptocurrency may harm the economy in the long run and presented significant consumer dangers.

Turkish investors appear to trust in the metaverse and have invested considerable sums of money in virtual land, according to personal user accounts. Istanbul's famed streets and popular districts are among the city's nearly 11,000 lots in the metaverse. To get a piece of Istanbul in the virtual world, prices range from $15 to $40. The Turkish government convened in the metaverse earlier this month to discuss forthcoming crypto laws.

"I believe that metaverse-based gatherings will improve quickly and become an important part of our lives," says the author.

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