Protests against the government continue to explode worldwide - with ATMs in Hong Kong running out of money and thousands of bank accounts frozen in India over the PMC Bank scandal, the notion of deflation and math-defined censorship-resistant currency will begin to take hold. a great force, according to Morgan Creek Digital co-founder Anthony Pompliano.
“I believe that finally people will opt for something that is not manipulable, not pledgeable, not objectionable, not unlimited, etc. Over time, more people will choose a currency that the government does not control.
Bitcoin brings a variety of valuable features. Part of the beauty of Bitcoin is that it is valuable to different people for different reasons.
If you are in a country where you are concerned about the confiscation of your assets, Bitcoin's impenetrability suddenly becomes very attractive.
If you are concerned about living in an area where you are being censored, incensurability becomes very attractive.
If you are in a country where there is hyperinflation, now someone's inability to depreciate that currency becomes very attractive. And so it just adds different value to different groups of people. ”
The protests in Hong Kong, which intensified over the weekend, are a response to repressive government policies. And capital is fleeing abroad, causing long lines at drying up ATMs.
Meanwhile, account holders in India are pleading to cash out their balances with PMC Bank, which has over 900,000 depositors.
Meanwhile, Bitcoin-specific features are becoming more attractive to certain places in the world. As a precaution, it is good to save some amount, these unique characteristics can be of great importance at any time in the world.