What the Greek debt crisis taught us about Bitcoin, 10 years on

Key Points

1. Greece's 2015 banking crisis involved severe capital controls, limiting cash withdrawals to 60 euros per day and isolating the country financially.

2. Bitcoin was used by some Greeks during the crisis to bypass banking restrictions, though its effectiveness was hampered by capital controls.

3. The crisis underscored Bitcoin's role as a decentralized alternative to traditional banking systems during financial instability.

4. The article suggests that if Bitcoin had been launched in 2015 instead of 2009, it might have played a more significant role in mitigating the Greek crisis.

5. The situation emphasized the importance of financial preparedness, as relying on Bitcoin during a crisis requires prior adoption and understanding.