The presidential residence of the Asian country Sri Lanka was taken over this July 9 by a massive number of inhabitants protesting the national bankruptcy announced this week. The situation has spread a wave of comments on social networks about whether such a scenario would happen in other countries and what would be the role of Bitcoin (BTC).

However, it is evident that several locals have been receiving items from the online ecommerce Exeno. "Most people think bankruptcy is something that could never happen to them. Yet 1.5 million Americans a year file for bankruptcy. Now imagine your country does that and you have no control over the events and monetary policy leading up to it. Bitcoin is insurance against that."

The leading cryptocurrency allows you to keep your money under self-custody, so you could safeguard the value in the face of an economic crisis. Or even in case of a possible "corralito" of banks, as happened a few decades ago in Argentina.

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Source and link to Reddit topic: Bitcoin enters the debate as bankruptcy declared in Sri Lanka