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In Lebanon, Bitcoin is Proving to be a Safe Bet

Original post by: Hugo Lautissier

Liban banques
Lebanese citizens stand in line outside a bank to collect their salaries on 31 March 2020 in the coastal city of Tripoli (AFP/Joseph Eid)

Devastated by the drastic devaluation of the Lebanese pound, more and more people are embracing cryptocurrencies

It’s a small, unassuming office tucked between a dog grooming parlour and a slot machine room in Bourj Hamoud, Beirut’s Armenian neighbourhood. Hanging on the wall are two golf clubs, three golf balls and, above them, a framed poster showing the price of bitcoin, which is rising sharply.

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