Earlier this year, the Greek debt crisis has highlighted the role of bitcoin in keeping an economy afloat despite capital controls. Several startups offered investments and loans using the cryptocurrency, providing an option for those who had been unable to move funds around when stock markets and banks were shut down in the country.
Later on, the Chinese stock market crash also spurred investors to seek alternative forms of investments, as other equity indices all over the globe started to tank as well. Is bitcoin starting to emerge as a safe-haven “exit” currency lately?
Bitcoin “Exit” Currency
Because of the equity market slump, the Chinese government and central bank have come up with a number of different ways to stem the