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Greece and Bitcoin: A Possible Future

Avatar Guest Author 5 years ago

Greece has been experiencing rough times since 2008.  The economy has shrunk by about one quarter.  Unemployment stands at about 25 percent, hundreds of thousands of businesses have closed and many of the nation’s people are living in poverty.

In the midst of all this, it appears that the country is having difficulty electing a new presidential leader.  Eurozone bonds and European shares experienced a heavy slump today following the Greek Parliament’s rejection of the government’s presidential candidate, thus paving the way for a possible Syriza party win.

This could mean a number of things; it could mean that the country’s citizens are dissatisfied with the EU; it could foreshadow Greece’s eventual exit from the Eurozone, and it could also signify the country’s possible desire to return to the drachma and reject the Euro.

Of course, when it comes to financial questions, many cryptocurrency enthusiasts are also asking… Would a country ruled by what has been labeled as an anti-establishment party eventually turn to bitcoin and related digital monies?

During Scotland’s recent campaign for independence, the question as to whether or not an independent Scotland would adopt bitcoin as an official currency meandered through several minds and now it appears that similar questions are arising.

Under the rule of Syriza, Greece’s exit from the EU is a possibility.  Could the rejection of the Euro lead to nationwide adoption of cryptocurrencies?

What do you all think?  Is bitcoin in Greece’s future?  Post your comments below and tell us your thoughts.

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