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The minimum wage for 2025 has been determined and announced as 22,104 TL. A 30% increase was applied to the net wage; however, this figure falls significantly below the labor representatives’ expectations and remains under the 47% inflation rate. Even the Turkish Statistical Institute, which has faced scrutiny over its calculations, reported that the annual inflation rate is 47%, while the cost of living for a single worker is 26,712 TL. This raise raises questions regarding how much cryptocurrency can be purchased with the new wage.
Minimum Wage for 2025
The minimum wage, previously set at 17,002 TL in 2024, was revealed during the fourth meeting with employers. Turkish labor union Türk-İş had requested a wage of 29,583 TL last week. The newly announced wage, which falls short of the inflation increase, was disclosed live by Minister Vedat Işıkhan, stating the new minimum wage is 22,104 TL.
It was noted that representatives of the labor side likely did not attend the meeting in response to the exceedingly low wage.
How Much Crypto Can Be Purchased with 2025 Minimum Wage?
In 2023, the minimum wage was announced as 17,002 TL for 2024. During those times, a minimum wage worker could purchase the following amounts of cryptocurrency with a monthly salary:
- Bitcoin
$104,788: 0.01347 BTC - Ethereum
$2,541: 0.2519 ETH - Shiba Coin: 60,310,296 SHIB
- Ripple (XRP)
$2: 919 XRP
A citizen purchasing XRP Coin with their first salary in 2024 would have assets valued at 75,358 TL today.
How have the figures changed this year?
- Bitcoin: 0.006357 BTC
- Ethereum: 0.1784 ETH
- Shiba Coin: 27,038,532 SHIB
- Ripple: 267.6 XRP
Due to the significant decrease in the amount of cryptocurrency that minimum wage earners can purchase, this is attributed to both the rise in cryptocurrency prices and the weak increase in minimum wage. The ongoing depreciation of the TL against the USD also plays a crucial role in this situation.
On January 2, 2024, the USD was 29.66 TL, but as the year nears its end, the exchange rate is now 35.2 TL. Considering the inflation of the dollar, the depreciation of the TL, and domestic inflation, a challenging new year awaits salaried workers.
