Cryptocurrency has already established itself as an important and useful tool during financial crisis. The Cypriot Banking Crisis of 2012-2013 began when Cypress, at the direction of the European Union, froze bank accounts and stole money from uninsured account holders. This led many Cypriots to attempt to move their money out of the nation and its banks. Since there weren’t a lot of fast and easy options to get money out of the country, they began buying Bitcoin. Prices for Bitcoin increased nearly 500% during that month, from $46 on March 9th, 2013 to $230/unit on April 9th of that same year. A month later, as the excitement of the crisis winded down, the new price of Bitcoin stabilized around $110/unit, That price point remained relatively stable until about six months later when people in China, who are subject to extreme cross-border monetary transfer restrictions discovered the utility of Bitcoin. This led to a tenfold increase in Bitcoin’s volume coming out of China and a massive surge in Bitcoin’s value, which briefly reached $1000/unit before settling back to a new price floor around $250. As of this writing, Bitcoin is priced at about $800/unit.