• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
<>
Sensei Inu Logo

After Greece, Bitcoin Might Entertain Puerto Rico’s Debt Crisis

Yashu Gola by Yashu Gola
8 years ago
in Cryptocurrency Market News
Reading Time: 2 mins read

The economic crisis in Greece has placed Bitcoin under the international media’s spotlight again. The fact that the price of the digital currency is rallying over the past few weeks can alone justify its current market demand. Greeks, which are saddled with indefinite bank closures and cash withdrawal limits, are speculated to be buying Bitcoin at large. And to woo them further, many companies have announced to waive their trading fees for these special class of citizens.

Bitcoin Orange Logo LG WD

The world is eyeing on Greece, and the Greeks are eyeing on Bitcoin. It is an image media has created for a cryptocurrency that can be accessed freely without needing a bank or government. So it will not surprise if any other debt-smacked population, in future, chooses Bitcoin as their short-term anchor.

Which brings us to Puerto Rico, an unincorporated US territory, which recently admitted that it is also undergoing a “Greece like” debt situation. The island’s governor, Alejandro García Padilla, said in a statement that they actually owe their creditors around $72 billion in debt and, upon the aftermath of 2008’s recession, are not able to repay the sum.

“The debt is not payable. There is no other option. I would love to have an easier option. This is not politics, this is math.”

Like Greece, Its Citizens First

The statement from the governor comes more like a warning to citizens, an unofficial acknowledgment saying that the people will have to bear the pressure of their nation’s bankruptcy in the form of increased taxes and plunged pension funds. The worst case scenario is nothing but a Greece-like situation, where Puerto Ricans will be put under capital control until the debts are fully repaid and economy is restructured.

To sum up, Bitcoin is currently standing on yet another hype, betting on the chances that Puerto Ricans will add demands to its sector, just like Greeks. In a best case scenario, the price might hit another upside sphere in coming months.

Tags: Bitcoin demandbitcoin pricegreecegreece bitcoin
Tweet123Share196ShareSend
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

‘Uptober’ Hopes Fuel Bitcoin Price Rally, Bitcoin Minetrix Presale Nears $350,000

‘Uptober’ Hopes Fuel Bitcoin Price Rally, Bitcoin Minetrix Presale Nears $350,000

3 hours ago
Chainlink Bear

Chainlink Signal That Preceded Crashes Of 34% Is Back

6 hours ago
Bitcoin BTC price October

Bitcoin News: Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

8 hours ago
Praxis announces crypto accessibility partnership with Choise.com,  expanding its global presence

Praxis announces crypto accessibility partnership with Choise.com, expanding its global presence

8 hours ago
Fan Tokens and SportFi Are Drawing Support From Unlikely Quarters, Including Regulators

Fan Tokens and SportFi Are Drawing Support From Unlikely Quarters, Including Regulators

8 hours ago
crypto

Crypto Era Looms: BIS Innovations Chief Calls On Central Banks To Prepare

10 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Next Bull Run Is Approaching, Follow The Smart Money...

    8 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    11 hours ago
  • Unbelievable: Tradecurve (TCRV) Skyrockets, Leaving...

    13 hours ago
  • Microsoft’s AI Reveals the Holy Trinity of Profit...

    13 hours ago
  • Investing in Trading 212: Is the Risk Worth the Reward?

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.