Cryptocurrencies: Monetary Revolution or Speculative Mirage?
In barely a decade, cryptocurrencies have burst onto the global financial scene, shaking up long-held beliefs and dividing experts and investors alike. Born out of deep distrust toward central banks and the traditional financial system, they are now being courted by the very institutions that once dismissed them. Behind this paradox lies a polarizing debate: are cryptos a lasting revolution or a speculative bubble destined to burst sooner or later? An Ideology Forged in Response to Repeated Financial Crises Bitcoin, the forefather of all cryptocurrencies, is not just a technical innovation—it is a manifesto. Created in the wake of the 2008 financial crisis, it embodies a rebellion against banking excesses and the unlimited monetary creation by central banks. Its first block contains an explicit message: “Chancellor on brink of second bailout for banks.” The tone was set. Inspired by the cypherpunk movement and the Austrian school of economics, this vision rejects the state monopoly on ...