It’s no wonder why so many in the crypto Twitter and Reddit spheres are confused as to why Bitcoin is rallying even with banks collapsing and bailouts underway. After all, this is the exact purpose that Bitcoin was designed for over a decade ago! Bitcoin doesn’t require the stock market or a drop in interest rates to go up in value; it’s simply here to provide a safe haven in the event of another global financial crisis.
As more banking institutions fail over the coming months, not only in the US, but in Japan, Canada, the UK, and China, don’t be surprised if Bitcoin reaches the $50k mark as soon as June. It’s times like these that I’m reminded of the genius of Satoshi Nakamoto for creating Bitcoin.
Rather than looking at Bitcoin’s price in US Dollars, it’s better to think of it in terms of what it can buy you. For example, the current price of Bitcoin is equivalent to 1376 large Papa John pizzas. That’s a powerful truth that keeps me motivated to continue to buy Bitcoin.
It’s important to note that the banking collapse didn’t just happen in 2008/09, it was merely masked over. Just ask people in countries like Cyprus, Venezuela, Argentina, Turkey, and Lebanon if they can attest to that.
The world has waited 14 years for Bitcoin, and now is the time to reap the benefits. It’s like looking in a mirror and seeing the truth.