With a growing portion of the world dealing with financial turmoil, it is only to be expected local currencies are bleeding value in terms of purchasing power. When depicting the current value of these currencies in Bitcoin value, it quickly becomes apparent things are not looking too great. The following currencies are all valued at 1 Satoshi at this time, which is equal to 0.000001 Bitcoin.
Paraguayan Guarani (PYG)
Not too much is known about Paraguay in terms of finance, other than it being one of the poorest countries in South America these days. As such, the value of its local currency, the Paraguayan Guarani, is not looking too healthy by any means. One PYG is worth $0.00016 US Dollar, or 1 Satoshi. This means it would require 100 million PYG to buy one full Bitcoin at the current price, which would make Bitcoin holders in Paraguay genuine millionaires.
Laotian Kip (LAK)
The Laos region never makes any major headlines in terms of positive financial momentum. Nor does it make headlines for negative financial developments, albeit the current situation in uneasy even under the best of circumstances. Its domestic currency, the Laotian Kip, is worth 0.00011 US Dollar, or 1 Satoshi. This makes it slightly more valuable than the Paraguayan Guarani, but not by too much either. It will be interesting to see how this particular economy evolves moving forward, as something will need to change sooner rather than later.
Guinean Franc (GNF)
There is a certain threshold below which any fiat currency will never be valued higher than 1 Satoshi. Even for the Guinean Franc, things are not looking overly great at this time. The former colony has gone through its own set of financial problems in recent years, which is somewhat common among African countries. One GNF is valued 0.00011 US Dollar, which makes it virtually identical to the Laotian Kip. This is not a positive development by any means, although one has to wonder if this is the last of the financial turmoil plaguing this country.
Sierra Leonean Leone (SLL)
Another currency joining the illustrious 0.00011 US Dollar club comes in the form of the Sierra Leonean Leone. Sierra Leone is not exactly a region known for its financial prowess or stability in recent years. While that applies to most of the African continent these days, it would appear some regions fare slightly better compared to others. With a current value of 1 Satoshi per SLL, it is not too difficult to become a millionaire in that part of the world. Unfortunately, having 100 million SLL won’t get people too far either, but that is par for the course.
Statistics are provided by FiatMarketCap.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.