Economic collapse in Yemen drive many towards cryptocurrency

Economic collapse in Yemen drive many towards cryptocurrency

As inflation in Yemen surged to a record 45 per cent in 2021, Aisha Hamid watched the value of her savings steadily erode. Even with inflation now down to about 20.7 per cent, the 34-year-old Sana'a resident says the damage has already been done. She had saved about $6,000 from her husband’s monthly income and initially bought gold jewellery to preserve its value. But as cryptocurrencies became better known in Yemen after 2017 and surged during …

Yemen’s Economic Collapse: How Hyperinflation is Fueling a Crypto Boom Among Citizens

Yemen’s : How Hyperinflation is Fueling a Among Citizens In a country torn by years of conflict and economic hardship, many Yemenis are finding hope in an unexpected place: cryptocurrency. With inflation once hitting 45% and still hovering around 20%, savings are vanishing fast. People like Aisha, a 34-year-old mother from Sana’a, have sold their gold jewelry to buy Bitcoin. This shift shows how is pushing ordinary folks toward digital money for…