Government’s Threat to Freeze Accounts Lead to Canadians Withdrawing Astonishing Numbers from Banks

To avoid the prospective government measures outlined recently by Canadian Prime Minister Justin Trudeau have forced people to withdraw a large amount of money from the banks. An Economic journalist from the United Kingdom, James Melville discovered money transferred in huge amounts.  With the data, Melville posted a graph on his Twitter page depicting the tremendous flow of money that has been ‘withdrawn’ from Canadian banks. Canada is now observing a wave of protects caused by the obligatory COVID-19 vaccination scheme. Citizens have begun making social and economic demands.  Only a few days ago, the protests reached a climax. Trudeau and other authorities claimed that people impending the streets will have their bank accounts frozen. However, this is not the concerning aspect of the measures taken.  Worse is the plan to add ‘detainees’ to a ‘misconduct’ file. Once a citizen would be mentioned in the file, then they will be barred from accessing certain types of employment and will be labeled as ‘terrorists.’ This is quite shocking for a country like Canada where the notion of democracy appears to be in jeopardy. 

Can Canadians opt for Bitcoin?

Many Canadians, according to social media, have been exchanging their money for digital assets such as Bitcoin. Individuals believe that exchanging money into digital assets will safeguard their money from authorities trying to freeze their bank accounts. This is a spectacular benefit of Bitcoin - it cannot be seized.  Bitcoin is known as a powerful financial tool designed and operated to become a weapon of true individual economic sovereignty. Here no government, corporation, or organization can control or centralize it.  Acquiring 51 percent of Bitcoin is quite impossible. And herein lies the most valuable guarantees of this innovative and revolutionary virtual asset. Thus, 'Bitcoin fix this,' as a phrase in this industry is used to highlight the numerous use cases of cryptocurrency. Canada has a reasonably sound economy and a population that does not require the usage of cryptocurrencies to defend itself against inflationary occurrences, as is the case in Latin America. However, in the case of an individual financial embargo, Bitcoin and other cryptocurrencies will be an effective means for circumventing this. Howbeit, is it worth asking, will the Trudeau administration sanction it? Or will they pass another legislation to outlaw the usage of cryptocurrencies in Canada?