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Analysis: Trump's dismissal of Powell could trigger a similar Turkish lira crisis, causing capital to flow to BTC and stablecoins

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2025-04-22 04:19:32
Trump plans to fire Federal Reserve Chairperson Jerome Powell, but Turkey's experience with central bank intervention appears to be a warning against such behavior. Turkish President Erodgan issued the first decree to fire the country's central bank governor Murat Cetinkaya in July 2019. 2020-21, a series of interventions by the Turkish central bank caused the fiat currency to collapse and sent capital to BTC and stablecoins. If Powell is fired, it may accelerate the dollar sell-off and then promote bitcoin adoption. Data show that the dollar index has fallen by more than 10% in three months, and is currently at 98.
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