Yellow Vests, a French grassroots political movement the Gilets Jaunes is to launch a bank run similar to Bitcoin’s (BTC) Proof of Keys, according to sources on social media Jan. 7.
Termed the “Collectors’ Referendum,” the most recent protest by the movement ordered supporters to cash out all their savings and other deposited money from financial organizations on Saturday.
An activist known only as Tahz San while commenting in a video uploaded to Facebook stated that the move is intended to “scare this (French) state completely legally and without any violence, yet more efficient than ever expected” in the whole history of the Gilet Jaunes movement.
“It’s our elected officials’ worst nightmare,” he continued.
The possible risk element of the Referendum could basically be considerable, per local magazine Capital report. The report further noted that the final turnout could be low enough in order not to instigate a crisis.
However, parallels will continue to be drawn by those in Bitcoin circles between the Referendum and the previous week’s Proof of Keys event, which was hosted by a sole investor, entrepreneur Trace Mayer.
Scheduled to occur during the tenth anniversary of the Bitcoin genesis block, Proof of Keys was projected to instigate Bitcoin users to evacuate all coins stored with trusted third parties and take back the management of their private keys.
The fiat bank runs led to the appeal of Bitcoin, at least psychologically prior to this period, with the 2013 Cyprus’ financial crisis seeming to increase the cryptocurrency price.