Bitcoin news in 2013

In March 2013, Cyprus proposed a controversial bank bailout that would seize a percentage of money from all bank accounts, triggering public outrage and political resistance. As confidence in traditional banks and government-backed currencies weakened, many Europeans—especially in countries worried about similar financial troubles—turned to Bitcoin, causing its price to rise sharply. The article argues that Bitcoin’s growing appeal reflected a broader loss of trust in banks, central banks, and governments following the eurozone debt crisis. It suggests that people were attracted to Bitcoin because it seemed less vulnerable to government intervention and bank bailouts than conventional currencies

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Reference: https://www.newyorker.com/tech/annals-of-technology/the-bitcoin-boom