Bitcoin’s Unprecedented Growth in Turkey
In 2020, the price of Bitcoin ranged between 20,000 and 30,000 TL. Since then, Bitcoin has achieved remarkable success, now exceeding 5 million TL. Back then, the average house price was approximately 268,500 TL, while current prices hover between 3‑4 million TL. Many regions even offer houses for less than 2 million TL, indicating that a single Bitcoin, which once equaled a tenth of a house, now can purchase more than two houses.
This scenario reveals the immense opportunity brought forth by Bitcoin’s price surge, going beyond the local currency’s depreciation.
Moreover, Bitcoin continues its upward trajectory against the USD pairing. Over the years, BTC has consistently outperformed gold and other alternative assets, experiencing nearly a 60‑fold increase in the last 1856 days. In 2020, a 100 TL investment in Bitcoin would now be worth 6,000 TL.
Turkish Investors’ Preferred Altcoins
The scenario would differ for a gold investor, who, having invested approximately 344 TL in gold in 2020, would now have around 5,200 TL. This represents a 14‑fold gain, whereas Bitcoin’s return is 428% higher. The disparity is evident, with clear figures to back it up.
Data from 21milyon.com indicates that Turkey‑based cryptocurrency exchanges see a total daily trading volume of 33.3 billion TL, with Bitcoin holding the lion’s share of 3.1 billion TL. The Napoli Fan Token follows as the second‑most traded cryptocurrency among Turkish investors. Due to USD volatility, USDT secures the third position, with USDC coming in fourth.
Continuing the list:
- •ETH
- •DASH
- •PUMP
- •Ethfi
- •
- •XRP
- •AVAX
- •NMR