Bitcoin Bull Run Alert: Italy to Begin Banking Bail-In
Italy is beginning to implode, with a banking bail-in starting in earnest. Another Bitcoin bull-run is in the offing?
Bitcoin has proven a few things true over its relatively short existence in human history. One, it has proven that it is not going anywhere, regardless of how many times the mainstream media pushes it into the cornfields. Two, the inherent value of Bitcoin’s currency and underlying technology are so strong and undeniable that the world’s largest nations, banks, and corporations are building their future business models around it. Thirdly, Bitcoin is the world’s newest financial “safe haven,” as market turmoil means great gains can be made in the world of digital currency like Bitcoin.
This truth may come into play once again, as the year comes to a close. Reports out of Italy indicate another European Union member nation is beginning to implode, and a banking “bail-in,” or “debt conversion” are starting in earnest. Is another Bitcoin “bull-run” in the offing?
Haven’t we met before?
According to multiple sources, including ZeroHedge, Reuters and Bloomberg, Italy’s banking system is beginning to implode starting with Monte dei Paschi, Italy’s third-largest bank, which has been lending money for over 540 years.
The details of how they will execute the bail-in, which may also be called a “restructuring” or a "voluntarily equitization,” are not of terrible importance. What is important is how the Italian market will react, specifically over the next two weeks, as Monte Paschi tries, and may fail to, r