Satoshi

Richard

Bitcoin

Resistance

<ul><li>Bulgarian protests against euro adoption have escalated, driven by nationalist who fear the loss of sovereignty, countered by proponents citing investment benefits.</li><li>Amid the debate, Bitcoin is emerging as a potential alternative for those seeking financial autonomy outside centralized banking systems or, even better, emulating El Salvador.&nbsp;</li></ul>In 2009, through the innovative mind of Satoshi Nakamoto, Bitcoin was launched, initiating what some perceived as the opening salvo in an economic war against centralized currencies, including the U.S. dollar, Euro, Chinese Yuan, and Pound Sterling.The war on centralized currencies, in<a href="https://www.ethnews.com/digital-euro-vs-bitcoin-can-ecbs-match-cryptos-flexibility-and-privacy/" rel="noopener noreferrer nofollow">&nbsp;this case EURO,</a> has gone a notch higher.<h3 id="strong-bulgarian-nationalists-protest-euro-adoption-strong">Bulgarian Nationalists Protest Euro Adoption</h3>Tensions flared in Bulgaria’s capital, Sofia, over the weekend as thousands of protesters clashed with police in opposition to the government’s plans to adopt the euro. The demonstrations were spearheaded by supporters of the ultra-nationalist Revival party.The scenes from Sofia were stark. Effigies of European Central Bank President Christine Lagarde were burned, and the local European Commission office became a target for Molotov cocktails and paint. The intensity of the protest, resulting in injuries to police officers and multiple arrests, highlighted the raw emotion surrounding the euro adoption.Economically, the situation presents a complex dilemma. On one end, supporters of euro adoption argue that it would attract great foreign investment and improve the country’s credit rating, potentially boosting the nation’s dying economy.In support, El Salvador, who made Bitcoin <a href="https://www.ethnews.com/bitcoin-or-bailout-el-salvadors-btc-purchases-allegedly-on-hold/" rel="noopener noreferrer nofollow">their official currency</a> has experienced considerable benefits. Primarily, it has seen an increase in tourism, and secondly, the country acquired the token at a price significantly lower than its current value and it would greatly profit.On the other end, critics, including many of the protesters who came out, contend that Bulgaria, in this case, the EU’s poorest member, is not yet prepared for the change. They express fears of losing economic sovereignty and experiencing price increases, worries reflecting the experiences of those disadvantaged by globalization.Amidst this turmoil, the decentralized nature of Bitcoin offers a stark contrast to the centralized control of traditional fiat currencies and the euro. While Bulgarians grapple with the fluctuating fortunes of their national currency, the stable and independent nature of borderless, censorship-resistant digital assets grows in appeal.Bitcoin’s inherent transparency and limited supply could offer a sense of stability and control that many feel is lacking in the current economic climate.At the time of writing, Bitcoin, the king of crypto is swapping hands with $94,148.58 after a a 1.44% decline in the past 24 hours. Looking at the digital assets long term trajectory, BTC has recorded more than 80% growth in the past year.This momentum fully falls within Virgin’s Sir Richard Branson’s <a rel="noopener noreferrer nofollow">line of thought</a> in which he stated that;<blockquote>I think it is working. There will be other currencies like it that may be even better, but in the meantime there’s a big industry around bitcoin.</blockquote><div class="sc-65e7f566-0 enCfYh"><div class="sc-4c05d6ef-0 sc-8ec8b63a-0 dlQYLv fEKdaZ"></div></div>In a world increasingly defined by economic uncertainty and political polarization, the allure of decentralized alternatives like Bitcoin may continue to grow.The post <a href="https://www.ethnews.com/bulgarias-euro-push-faces-resistance-will-bitcoin-be-the-peoples-currency/" rel="noopener noreferrer nofollow">Bulgaria’s Euro Push Faces Resistance – Will Bitcoin Be the People’s Currency?</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Bulgaria’s Euro Push Faces Resistance – Will Bitcoin Be the People’s Currency?

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