The combined population of these 5 countries alone is twice that of the US. No further questions, Mr. Cramer… LBP 🇱🇧 NGN 🇳🇬 TRY 🇹🇷 UGX 🇺🇬 IDR 🇮🇩 (FX charts below via #Bitbo)

Jim Inverse Cramer recently expressed his skepticism about Bitcoin. He asked, "What has Bitcoin ever done for mankind?" and claimed that "BTC is unlikely to find its footing."

While Cramer may be entitled to his opinion, he seems to be oblivious to the fact that Bitcoin is more than just a speculative asset for investors. It is also a lifeline for millions of people who live in countries where hyperinflation, riots and civil war destroy hope and erode purchasing power.

One such country is Lebanon, where the local currency, the Lebanese pound, has lost more than 95% of its value since 2019, plunging the country into a deep economic and social crisis. Pensions are virtually worthless and bank account balances are just numbers on paper. Banks closed without warning and ATMs are often either out of cash or entirely offline from nationwide blackouts. When locals are able to gain access to their accounts, they have to withdraw money at only 15-30% of its original worth.

In this dire situation, Bitcoin offers a way out for many Lebanese. By using Bitcoin, they can escape the devaluation of their currency, preserve their wealth, and access financial services that are otherwise unavailable or unreliable. Bitcoin also enables them to transact across borders without permission of corrupt authorities, participate in the global economy, and support their families and communities.

Bitcoin is not only helping the Lebanese, but also many other people around the world who face similar challenges. In countries like Venezuela, Zimbabwe, Argentina, Turkey, Iran, and Nigeria, where inflation, sanctions, corruption, and instability are rampant, Bitcoin is providing a lifeline for the oppressed and unbanked. Bitcoin is empowering them to take control of their money, their future, and their freedom.

So, to answer Jim Cramer's question, what has Bitcoin ever done for mankind? It has given hope to the hopeless, value to the valueless, and power to the powerless. It has shown that money can be decentralized, transparent, and democratic. It has challenged the status quo and the monopoly of the elites. It has created a new paradigm of money that is more inclusive, fair, and resilient.

Bitcoin is not just a store of value. It is a store of values.

#remittances #payments #economy #bitcoin #nostr 💜