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The movement of the French yellow jersey could increase the adoption of Bitcoin?
When Emanuel Macron increased fuel prices in November 2018, he probably did not expect French citizens to go down the streets. The protests are managed by a group called gilet jaunes, known as & # 39;Yellow waistcoats& # 39; in English.
The Yellow Vests is a group of protesters against economic policies imposed by President Macron. The protesters use yellow reflector jackets as uniform during the marches, hence the name. To date, the rioters have confronted the police in Paris, causing enormous damage throughout the country's capital. Activists also managed to stop transport across France by blocking major highways across the country.
Government response
As expected, the French government is doing everything to reduce the wave of Yellow Vests protests. The prime minister, Edouard Philippe, said he will punish the people behind the illegal uprisings. He also said that the government will soon ban the use of masks to hide faces during demonstrations.
It seems more and more that the government's efforts stimulate more people to join the gilet jaunes. In the coming weeks, the unrest should take place in other key cities in France like Caen, Lyon and Rouen. At the time of writing, the losses resulting from these demonstrations amounted to 1,400.
The rush of the yellow banks of the banks
Earlier this week, news emerged of an imminent bank run organized by the Yellow Vests movement. The news comes from a YouTube video posted on an affiliate channel gilet jaunes. The video, which lasts 33 minutes. It is urging the French to withdraw their money from centralized banks.
According to the video, his proposed method of draining bank accounts is a subtler way of capturing government attention to street violence. This is because weakening the banks will also weaken the state. The idea is gaining momentum among French citizens, with around 70% of the population of the country on which their support is based.
Relationship with Bitcoin
Some of the Yellow Vest protesters had written "Buy Bitcoin" on their rebellious uniform. Although only some of the rioters are aware of Bitcoin, they could have a significant impact in spreading this awareness to their colleagues. So far, the protests have inspired the creation of a Bitcoin puzzle hidden in an art work depicting the protesters of the yellow jersey. The painting was published on Twitter by Pascal Boyart, a famous French artist. The jackpot for this competition is $ 1,000 (0.28 BTC).
How the Bank Bank will increase the adoption of Bitcoin
Despite the determination of the Yellow Vests, it is almost impossible to crash the French banking system. This is because banks can easily impose withdrawal limits on accounts, effectively preventing customers from emptying their coffers. The imposition of such restrictive regulations will only highlight the advantage of Bitcoin on traditional financial systems. This could encourage the population to invest Bitcoin due to its decentralization.
It remains to be seen if people will listen to the gilet jaunes and withdraw their euros from the banks. However, if they do, they will certainly consider the purchase of Bitcoin, increasing the value of the cryptocurrency in the process.
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