Post
Topic
Board Economics
Re: Italy parallel currency
by
bitart
on 22/05/2018, 22:16:11 UTC
There is new populistic Government in Italy.
Itay is going to dump Euro and it will cause huge turmoil in Europe. New parallel currency will be in circulation and Euro accounts might be closed for owners. That will cause surge in Bitcoin prices like in the case of Cypres in 2013.

It seems that the problem has been at least postponed, according to CNBC:
https://www.cnbc.com/2018/05/21/this-is-the-impact-the-italian-populist-government-could-have-on-the-euro.html
Also, I'm not 100% sure that people will choose a currency with high volatility and risks if the EUR currency goes down, maybe only a little part of the people will start to buy bitcoin. Average people are not making such decisions easily under pressure and because of the end of the last year when a lot of newbie has burnt himself/herself with bitcoin, it won't make such a high impact on bitcoin price... but this is just my understanding...