I have a hunch that the event that makes Bitcoin go parabolic will be some sort of systemic banking crisis/collapse.
In order for people to gain trust in native internet money, maybe they have to lose trust in the existing money first. If banks fail and people lose access to their money, they’ll be forced to think outside the box.
In 2023, when Silicon Valley Bank collapsed, Bitcoin rallied 45% over the following month. It was a great advertisement.
I don’t know when we’ll see a systemic banking crisis — maybe it doesn’t happen for quite a while — but I do think it will happen at some point.
#bitcoin #banking #bankingcrisis
In order for people to gain trust in native internet money, maybe they have to lose trust in the existing money first. If banks fail and people lose access to their money, they’ll be forced to think outside the box.
In 2023, when Silicon Valley Bank collapsed, Bitcoin rallied 45% over the following month. It was a great advertisement.
I don’t know when we’ll see a systemic banking crisis — maybe it doesn’t happen for quite a while — but I do think it will happen at some point.
#bitcoin #banking #bankingcrisis
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