The Bitcoin Standard Podcast 274. Zawda: Rising from Lebanon's ashes
May 20, 2025
Odey Qemal, Founder of Zawda—a Bitcoin startup in the Middle East—shares his personal journey through Lebanon’s hyperinflation and how Bitcoin transformed his life. He discusses the struggles of navigating financial crises and the societal barriers to adopting decentralized finance. Odey highlights the potential of Bitcoin-backed loans for empowering small businesses and provides insight into sustainable growth strategies in the Bitcoin sector. He also emphasizes the need for education and collaboration in expanding Bitcoin adoption across the region.
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Odey's Banking Crisis Losses
- Odey experienced a 75% loss of his life savings during Lebanon's banking crisis and hyperinflation starting October 2019.
- He liquidated most of his savings by June 2020, converting them into Bitcoin to preserve value.
Central Bank Trust Psychology
- People trust central banks for reassurance despite evidence of currency destruction, showing psychological need for a figurehead.
- This trust blinds most from seeing Bitcoin's decentralized strength without a central authority.
Bitcoin Investment Strategy
- Invest in Bitcoin only what you can afford to not lose sleep over.
- Treat it as a long-term speculative asset and add gradually but persistently.
