Bernstein analysts have said the world is at a "pivotal moment" along the "path to hyper-bitcoinization"…
Highlights
- Bernstein analysts say the world is at a “pivotal moment” along the “path to hyper-bitcoinization” Bitcoin and cryptocurrencies have been thrust back into the limelight by the recent bank crisis.
- The banking crisis that swept the U.S.
- and Europe last month has forced the Fed and other top central banks into fresh dollar liquidity measures.
- Meanwhile, Treasury secretary Janet Yellen has promised all bank deposits would be protected by the government in the aftermath of Silicon Valley Bank’s sudden implosion, something the bitcoin and crypto community has pointed to as a sign of the system’s weakness.
- The bank crisis has drawn attention to bitcoin as a new way of storing wealth that is free from centralized points of failure.
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