When bitcoin hit record highs in February, Inal’s heart sank.
The 30-year-old unemployed man had spent his savings building a system to generate cryptocurrency in the summer of 2020, but continuing blackouts and a police crackdown in his native Abkhazia forced him to pull the plug early, losing a potential fortune. .
A view of a damaged bitcoin Illustration: VCG
“I’m looking at bitcoin prices now and I feel like crying,” Inal, who requested anonymity, said in a telephone interview.
Inal is one of the estimated hundreds of Abkhazians who have joined a cryptocurrency craze that engulfed the Black Sea territory in 2020, triggering an energy crisis that local authorities are struggling to overcome.
Power outages …
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