People in Greece lined up outside of ATMs on Sunday to withdraw as much cash as they could. Bitcoin supporters argue that the virtual currency is more secure because it's not subject to any government control.
The Bitcoin community is having an "I told you so" moment.
The value of the virtual currency has been on the rise this past month amid the growing panic about Greek’s financial future. Across the country, banks are shuttered and capital controls are in place until the referendum on Sunday. By Saturday, a rush emptied as many as 500 ATMs, Bloomberg reported.
It’s in this context that using Bitcoin may seem appealing. The virtual currency is touted by its fans as the future of finance because it isn’t subject to any governmental control or central authority.
For many, including well-known Internet entrepreneur and businessman Kim Dotcom, the crisis in Greece serves as a huge argument in favor of Bitcoin.
Every day, reporters and producers at The World are hard at work bringing you human-centered news from across the globe. But we can’t do it without you. We need your support to ensure we can continue this work for another year.
Make a gift today, and you’ll help us unlock a matching gift of $67,000!