Bitcoin Bull Michael Saylor Asks Turkey to “TRY BTC” as Lira Tanks 83% Against USD

Renowned Bitcoin evangelist Michael Saylor has subtly urged the government of Turkey to consider adopting a Bitcoin strategy to address the declining national currency. Saylor made this suggestion in a tweet today. He highlighted how the Turkish Lira (TRY) continues its steep decline against the U.S. dollar. The accompanying chart shows the USD/TRY exchange rate reaching 38.00 after the dollar gained 3.73% against the Lira in the past day. Notably, the chart reveals that the Lira has been on a long-term downtrend against the dollar since at least 2021. According to data from TradingView, TRY has tanked 83% against USD in the last five years. This reflects ongoing economic struggles and inflationary pressures in Turkey. "TRY Bitcoin" Meanwhile, MicroStrategy founder Michael Saylor responded to this development with a simple but telling message: “TRY BTC.” His post suggests that Bitcoin could be a viable hedge against failing fiat currencies. https://twitter.com/saylor/status/1902334001534144926 Saylor has repeatedly argued that Bitcoin is a superior store of value for countries like Turkey with high inflation and currency instability. In earlier tweets, he made more direct suggestions regarding Bitcoin for Turkey. According to him, "Bitcoin is hope" for Turkey's inflation struggles. "If you reside in Turkey, your best wealth preservation strategy is Bitcoin," Saylor said in the tweet. BTC as Wealth Preservation In recent times, Saylor has been more aggressive in his campaign for Bitcoin as a tool for wealth preservation. He emphasized the need for countries to hold it as part of their reserves. Speaking at the Bitcoin Policy Institute forum, Saylor outlined the importance of Bitcoin for the United States' future. He views strategic Bitcoin reserves as a key element in securing the U.S.'s digital supremacy in the 21st century. Saylor suggested that Bitcoin could generate $10 trillion annually for the U.S. economy if treated as a strategic reserve, similar to real estate that’s rented, developed, or leveraged. He projects that Bitcoin’s market value could reach $280 trillion in 20 years. In parallel, the U.S. government's $17 billion Bitcoin could be worth anywhere from $3 trillion. Far into the future, he expects it to be worth $106 trillion for the United States.