#Bitcoin The financial crisis of 2008, also known as the subprime mortgage crisis, was one of the worst economic crises since the Great Depression of 1929. Here is a summary of its causes and consequences:

### Main Causes

1. Real Estate Bubble: The crisis originated in the United States due to the collapse of the real estate bubble. Home prices rose rapidly, driven by high-risk (subprime) mortgage loans granted to buyers with low creditworthiness¹.

2. Complex Financial Products: Banks packaged these loans into complex financial products like CDOs (Collateralized Debt Obligations), which were sold to global investors².

3. Financial Deregulation: Deregulation allowed financial institutions to take excessive risks without sufficient oversight¹.

### Consequences

1. Bankruptcy of Financial Institutions: The crisis peaked with the bankruptcy of Lehman Brothers in September 2008, which triggered a global banking crisis¹.

2. Global Recession: The crisis caused a global recession, with a significant decline in economic activity and rising unemployment¹.

3. Government Interventions: Governments and central banks implemented rescue and economic stimulus measures to stabilize the financial system².

If you have any specific questions about the crisis or want to know more details, feel free to ask!

Do you think that if something similar happens in these times, is the best option to have a reserve, $BTC ?

¹: [Wikipedia](https://es.wikipedia.org/wiki/Crisis_financiera_de_2007-2008)

²: [Comillas](https://repositorio.comillas.edu/xmlui/bitstream/handle/11531/37670/Crisis%20Financiera%20de%202008%20Causas%20Consecuencias%20y%20Situacion%20Actual%20del%20Sistema%20Financiero%20-%20Ochoa%20Mosquera%2C%20Jorge.pdf?sequence=1)

Sources:

(1) Financial crisis of 2007-2008 - Wikipedia, the free encyclopedia. https://es.wikipedia.org/wiki/Crisis_financiera_de_2007-2008.

(2) FINANCIAL CRISIS OF 2008: CAUSES, CONSEQUENCES AND ... - COMILLAS. https://repositorio.comillas.edu/xmlui/bitstream/handle/11531/37670/Crisis%20Financiera%20de%202008%20Causas%20Consecuencias%20y%20Situacion%20Actual%20del%20Sistema%20Financiero%20-%20Ochoa%20Mosquera%2C%20Jorge.pdf?sequence=1.

(3) What was the financial crisis of 2008. https://muyfinanciero.com/historia/crisis-financiera-de-2008/.