The Germans had a successful bond auction today which ended with the 2-year notes sold yielding a whopping -0.38%. That's right, NEGATIVE 0.38%. Further easing indicated by Draghi has been responsible for persistent negative interest rates in German Bunds.
We are in a new world where deflation is the big threat in global finance. Multiple countries now have negative interest rates implemented in some way at their central banks. Commodity prices have fallen so low, with oil in the $40s. This is the perfect environment for bitcoin to thrive.
As governments continue to desperately cut rates as prices decline and unemployment worsens in places like the Eurozone, Bitcoin will be a reliable store of value as there are no storage costs and even though it doesn't earn a rate of return, 0% is better than -0.5%, or -2%.