In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether

Aerial view during landing of the seafront Manara district near downtown Beirut.

Bilwander | Getty Images

When Georgio Abou Gebrael first heard about bitcoin in 2016, it sounded like a scam.

But by 2019, as Lebanon plunged into a financial crisis following decades of expensive wars and bad spending decisions, a decentralized and borderless digital currency operating outside the reach of bankers and politicians sounded a lot like salvation. 

Gebrael was an architect living in his hometown of…


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