In conclusion, the Austrian School of Economics and Bitcoin share common principles related to sound money, decentralization, individual liberty, spontaneous order, critiques of central banking, and market competition. The emergence and adoption of Bitcoin have sparked discussions within the Austrian economic community, with some seeing it as a potential solution to monetary issues consistent with their principles.
Bitcoin has so many benefits that many individuals, organizations and countries could derive from it. Sadly the government knows these benefits but they have refused to embrace the currency because they don't want to lose control of the financial system of the country. It is great to see that a higher institution in Austria's principle correlates with the idealogy of Bitcoin. Austria is a Bitcoin-friendly nation with the third largest number of Bitcoin ATMs in the world after the US and Canada.