Pentagon Files Reveal Fear of Bitcoin Rebellion

BusinessPentagon Files Reveal Fear of Bitcoin Rebellion

Pentagon Files Reveal Fear of Bitcoin Rebellion

Bitcoin has been around for more than a decade, but it has struggled to find support from the U.S government. According to a report leaked by The Intercept, the U.S Pentagon prepared in 2018 a scenario for a potential “Bitcoin Rebellion” while designing a war game.
This means that the American youth, also called “Gen Z” are reportedly preparing a way to brutally end the current financial system, described as “Corrupt State”. 

Is a Zbellion on the way? 

The “Zbellion”, as called in these papers leaked from the Pentagon, shows that the American government is suspecting younger generations to give back money that they would consider being “stolen from the poor”. 
According to the Intercept, “the war game scenario becomes a global cyber campaign to expose injustice and corruption” in a world with a lot of unrest, reports News Bitcoin. 

“Zbellion are given instructions for going to sites on the dark web to siphon funds from corporations, financial institutions, and nonprofits that support “the establishment.” The gains are then converted to Bitcoin and distributed to “worthy recipients” including fellow Zbellion members who claim financial need.”, detailed the Intercept. 

Bitcoin is “people’s money”

Whereas Bitcoin seemed to be a hard concept to grasp for millennials, GenZ, who was born after the dot com boom is very much understanding the importance of crypto currencies.
Last April, Robert Kiyosaki, the author of “Rich Dad, Poor Dad”, started promoting Bitcoin, thus making it mainstream. He called it “people’s money”. 

Although a Bitcoin is currently traded for almost $10,000, his op-ed on Twitter, the famous financial advisor said Bitcoin was the way to go to build a solid retirement plan – more so than an academic savings account. 
According to him, not only Bitcoin allows people to have more control over their wealth, but it truly is a groundbreaking system to see how 
“They will wonder how previous generations were able to accept the fact that a few people systematically decided to devalue what the majority of people owned”, he highlights. 

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Is COVID-19 beneficial to Bitcoin? 

If one looks at the year-on-year numbers, COVID-19 has helped cryptocurrencies become mainstream and reach new audiences. 
According to CoinTelegraph, countries that were in the past unfamiliar with Bitcoin have shown an increasing interest, namely Morocco, Argentina, Chile and Venezuela – all countries where the political and economical situations have found a safe haven in Bitcoin. 
Local Bitcoins reached 330 million Chilean pesos on the week of April 4th. In Argentina, Bitcoin’s volume purchased with the local currency increased by 1,028% in comparison with January 2018. Same thing in Venezuela where the weekly volume constituted over 722 billion Venezuelan bolivars for the week ending April 25”, reports CoinTelegraph. 
While the Coronavirus pandemic is continuing, many other countries are likely to face a historical economical crisis that could possibly push Bitcoin permanently to the foreground. 
The above content is considered to be market commentary information and shall not be perceived as independent investment research or investment advice.