Afghanistan Adopt Bitcoin During Taliban Takeover

Afghans have been resorting to bitcoin for storing and exchanging value since the Taliban took over control of most of the country. On August 15, hundreds of residents of Kabul, the country’s capital, rushed to banks to withdraw money as Taliban fighters took over the city demanding the government’s surrender – but only to hit a brick wall. Cash shortages, intense restrictions, and an ever-devaluing local currency have pushed Afghans to seek alternatives and find bitcoin.

“A nation-wide cash shortage, closed borders, a local currency touching record lows, and rapidly rising prices of basic goods; that’s why some Afghans I spoke to are turning to cryptocurrencies like bitcoin,” said MacKenzie Sigalos from CNBC.