Well, lately Greece is having some financial troubles like Zimbabwe but the national debt is skyrocketing. With the Greek banks closing due to instability in the economy, a large amount of Greeks are turning to Bitcoin. The bad new is that Bitcoin is a cryptocurrency that is required to be bought by money. Funny fact, there is only one Bitcoin ATM in Greece and since there is no way to withdraw money from the bank to buy the Bitcoin, people are using the online banking to buy Bitcoin off the online trading websites such as Germany’s Bitcoin.de which is a popular exchange.
This is a good thing because with this much activity, the price of Bitcoin will go up due to it’s popularity on the exchanges. I certainly noticed this week when the price of Bitcoin was $255 and went up to $259 today. Also, this is a good time to show Bitcoin’s potential and how it could be safer than a traditional fiat currency.
What if Greece used Bitcoin as it’s national currency?
Well, if Greece used Bitcoin as it’s official currency, it would be way more easier for Bitcoin users all over the world to use it while on vacation which could bring even more tourists. It would also mean that Greece would be the first OFFICIAL country to make Bitcoin it’s only national currency. Since Bitcoin is worth more than any other currency, it is wise to say that the fluxuation will be great and the Greek government will see their country rich when the value of Bitcoin goes back up to $1000.
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