Yellow Vests Plan Bank Run to Punish French Authorities

News / January 10, 2019 / Comments: 0
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Last week Bitcoin celebrated the 10th anniversary of its first block. That was the date when famous entrepreneur Trace Mayer decided to launch the “Proof of Keys” cryptocurrency movement. Movement members expected to withdraw all their Bitcoin assets from any third-party services and move them into cold storages. In such a way Proof of Keys’ followers planned to gain a full control over their assets.

Interestingly enough, but French Yellow Vests plan to start a similar bank run. During their latest Referendum they call on supporters to withdraw their savings from financial institutions on 12 January. Is French protesters’ action inspired by the Bitcoin’s “Proof of Keys” movement? Well, it really seems like that. There are many those who draw parallels between Proof of Keys event and Yellow Vests’ planned bank run.

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French activist Tahz San uploaded the video explaining the aim of the action. He said, the bank run would “scare this (French) state completely legally and without any violence, yet more effectively than ever expected”.

Financial experts consider the Yellow Vests’ gesture as a quite disruptive event. Still, in the long run, they greatly doubt whether the action will really ignite a financial crisis. Anyway, many agree that fiat bank runs can boost cryptocurrency adoption and its price growth.

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