Michael J. Saylor, co-founder of Microstrategy, has expressed his belief that Bitcoin could be the solution to Lebanon’s financial crisis. The country’s currency has lost a staggering 96% of its value against the US Dollar, leading to anarchy and hyperinflation. Saylor claims that commercial banks have failed Lebanon, and digital assets like Bitcoin offer a decentralized and seamless alternative to traditional banking systems. Currently, Lebanon has six Bitcoin ATMs, with the best way to access Bitcoin being through earning it or purchasing it with the Tether stablecoin. Saylor has previously stated that Bitcoin can be used to fight inflation, offering a viable option for corporate investors. He argues that conventional treasury practices are no longer effective in maintaining shareholder value, and Bitcoin provides an ideal solution to control the dilution caused by monetary inflation. A survey conducted in Argentina also revealed that Bitcoin and other cryptocurrencies are viewed as effective hedges against inflation, with the majority of respondents using cryptocurrencies to shield themselves from rising inflation. Approximately 70% of respondents believe that investing in Bitcoin and other cryptocurrencies is extremely safe.

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Information	Details
Geography	Middle East
Countries	🇱🇧
Sentiment	positive
Relevance Score	1
People	Michael Saylor
Companies	Bitcoin ATMs, Microstrategy, Paxful
Currencies	US Dollar, Bitcoin, Tether
Securities	None