BTC critic Erdogan vs. crypto enthusiast kilicdaroglu

BTC critic Erdogan vs. crypto enthusiast kilicdaroglu

The presidential elections in Turkey (May 14) could play a decisive role in the country's future financial situation. They could also affect the local cryptocurrency industry, since the two top candidates - Recep Erdogan (the current political leader) and Kemal Kilicdaroglu - represent completely different views.

Bitcoin explained the "war" in 2021 and supported the efforts of the central bank to introduce the digital lira. Kilicdaroglu is on the other hand as supporters of cryptocurrencies and web3.

A real chance for a change

The upcoming presidential elections in Turkey this weekend seem to be the most controversial for over a decade, with Erdogan facing a strong rival-Kilicdaroglu.

The current president has been in office since 2014 and received violent criticism for some of his political decisions. On the one hand, he led the country on a conservative path, distanced it from the western world and maintained close relationships with Russia (although Turkey is part of NATO).

The shattering economic situation of the transcontinental nation during its rule could be another point that the opposition could take advantage of. The inflation rate in Turkey is one of the highest worldwide, while the official currency-the Turkish Lira (Try)-recently fell to a record low compared to the US dollar.

Kilicdaroglus Political perspective seems to be completely different from the Erdogans. He promised to bring Turkey freedom and democracy, and said that it was what the youth wanted.

"We want free media and complete independence of the judiciary. Erdogan does not think that way. He wants to be more authoritarian. The difference between black and white is the difference between us and Erdogan," he told the BBC.

Apart from the fact that he is the preferred election for the younger generations, the 74-year-old politician could also gain solid support from the Kurdish minority, since the Democratic Party of Völker (HDP) would rather see him as an Erdogan. About 15 % of Turkish voters are of Kurdish origin.

According to a current survey, Kilicdaroglu could receive around 49 % of the votes on May 14, while Erdogan could reach 43 %. Nevertheless, a candidate needs more than 50 %to be chosen, which means that there could be a runoff election.

Listrough trend, PolitPro

Another big difference between Erdogan and his rival is their attitude towards cryptocurrencies. In the following lines we will see how the election results could affect the domestic digital asset sector.

Five another year war against BTC

President Recep Erdogan specified in September 2021 that the government was with cryptocurrencies in the war and "absolutely unable to accept it".

"We will not give you such a premium, and we will not do it either. Because we will remain on the street with our money, which is our main)

RECEP Erdogan, NTV

Turkey is also one of the numerous countries that have not introduced a comprehensive supervision of digital assets. The lack of rules was one of the factors that led to the billion dollar scandal around the crypto tour of Thodex.

According to several sources, the company CEO of the company has cheated by $ 2.6 billion and left the country. Two years later he was captured in Albania and deported back to his homeland to be in court.

Despite Erdogan's hostile attitude towards cryptocurrencies and the chaotic regulatory environment, the Turks show an increasing appetite for digital assets (which are viewed as an alternative to the pejorative try). In fact, the interest was great increasing every time the government introduced anti-crypto guidelines.

, however, it remains doubtful (given his controversy views) that the current president will change his position in this matter and give crypto his blessing.

The opposite scenario

Kilicdaroglus Potential Sieg could significantly boost the domestic crypto industry because the candidate swore to letting it thrive. He also loves web3 technologies, Proverb :

"As soon as we come to power, we will remove the PayPal ban and expand the web3 platforms. End Türkiye.

A country where our entrepreneurs and young people can live freely. We will do this with the smartest minds in the world and our country. ”

Kemal Kilicdaroglu, The Guardian

also kilicdaroglu criticized The central bank's decision to ban crypto as a payment method within the borders of Türkiye.