Italy and Greece to Drive Bitcoin Price Further Upwards?
The economic conditions in Italy and Greece may lead to increased demand for Bitcoin among investors and individuals. The banking system in Italy continues to wade through troubled waters. With no improvements in sight, the government of Italy is considering a bailout package for two major banks, Veneto Banca and Banca Popolare di Vicenza. The package worth 5 billion euros is still awaiting necessary regulatory approvals. The weakening banking sector will be receiving the aid in the form of “precautionary recapitalization” as part of the Eurozone regulations. Apart from the presently....
Related News
Greece faces a €1.5 billion payment to the IMF expires on June 30, and to make matters worse The Eurozone portion of Greece's €245-billion bailout expires on the same day. This huge debt and interest is totally unsustainable for Greece to maintain and Greece has no more to give. This could mean Greece exclusion from the Eurozone. Would it be a good idea for Greece to renounce the euro and adopt bitcoin? This would mean giving up their sovereign monetary policy. However, the finance minister of Greece, Yanis Varoufakis, believes that because Bitcoin is deflationary, it would be bad for....
For the last few weeks, the Bitcoin price has been on a high following bad financial news from Greece and China. Greece once again found itself staring down the barrel of a debt crisis, while China found itself in the clutches of a stock market collapse. The Bitcoin community met these ominous occurrences with optimism; the next global recession will surely give Bitcoin an opportunity to shine. The possibility of a global recession, combined with the hopes of a mass migration to Bitcoin, sent the Bitcoin price upwards until it hit resistance at $300 last week. Since then, the price has....
Yesterday, Bitcoin Magazine reported that Greece had closed its banks and imposed capital controls to prevent financial chaos after the breakdown of bailout talks with its international creditors. The decision came at the end of a weekend that brought Greece closer to "Grexit" - the potential exit from the Eurozone and perhaps the European Union (EU) itself - and confronted Europe with a serious crisis. Today, Jose Pagliery, the author of "Bitcoin - And the Future of Money," reports on CNN Money that Greeks are rushing to bitcoin. The article includes testimonials from top bitcoin....
Greece, one of the world’s regions that was known for ratio, philosophy and mathematics in the ancient world is under siege. These days, Greece and the lending/repayment actions are daily in the news. A lot of people are getting worked up about the EU, the European central bank, Germany, Belgium, lending policies etc. and “the poor Greek people”. To understand the EU viewpoints on Greece, just or not, and Greece itself we will have to go back in time. In the second part, we will discuss the benefit of blockchain like technologies and Bitcoin. To understand the current crisis in Greece, we....
Italy has made first step towards Bitcoin by implementing the same regulations as they do to cash. Italians just love cash. There are about 7 million people in Italy, who do not have the bank account and by that I mean that they had never had one. At the same time however, the number of population that downloaded bitcoin wallet places Italy 12th among other countries and this is only what can be traced. Although, on the general technological front Italy is far from the techy countries in EU. That probably is due to distrust to digital means of managing money and as we know, that kind of....