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Bitcoin: chronicle of a killing

Bitcoin has paved the way for real digital currencies, which large states will borrow and will have to learn to manage, alone. Bitcoin therefore worries today and especially makes shade.
1- Bitcoin(BTC, XBT): an eventful life. It was worth nothing in 2005, then $0.001 in 2009, $0.003 in 2010.1 in 2011, then 1 ounce of gold in 2013 ($1,250 then), $10,000 last year, $38,000 in early January, 75,000 at its (current) high in mid-April, then 33,000 in early June, before rising to 38,000 now.
2 – The bank police are alerted: In these conditions, the BIS (Bank for International Settlements, in Basel, the Bank of Banks), has just made “prudential proposals” to banks, which they have every interest in following.
 ” Although banks’ exposures to cryptoassets are currently limited, the continued growth and innovation of cryptoassets and related services, coupled with the increased interest of some banks, could increase global financial stability concerns and risks to the banking system in the absence of specific prudential treatment.”
To be clear, the BIS distinguishes between cryptoassets that are counterparties to a known asset, for example a currency, so they will be treated like it, and “other cryptoassets, including bitcoin, (which) require a stricter prudential approach”.

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Strict is the word: the BRI proposes that banks put one dollar in reserve for every dollar of bitcoin they have! Suffice to say that they will not keep any more, as this will be expensive for them, in addition to the message sent: bitcoin can be worth zero!

If this rule passes, Bitcoin will undoubtedly live its last days, tightened more and more by the (traditional) police who are worried about some of its users (bandits, gangs, ransomers and other mafias), plus those of central bankers and other regulators who are concerned about its destabilizing aspects (on banks, currencies, countries).

All this without forgetting its growing electric appetite, much to the chagrin of ecologists. And yet, Bitcoin has still opened the way to the currency, in ways that were initially secret, which has also allowed individuals to shelter from hyperinflation or authoritarian regimes, Venezuela and perhaps China! In fact, bitcoin’s history is eventful and contrasting…

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