The bitcoin sell-off looked much worse than how equities fared, but that’s just an illusion. You see, Bitcoin consolidated and rallied like equities Friday. But without the benefit of $1.5 trillion pumped into money markets by the Federal Reserve. Without a half percent interest rate cut by the Fed earlier this month. And without the president teasing massive tax relief.
Isn’t it obvious by now? Bitcoin is the only free-market currency of its size in the world. And it has stood up under this crisis of confidence, this absolute maelstrom of FUD, on its own two legs. That’s what a really strong currency looks like. And those with eyes to see it have not missed what just happened.
Bitcoin Proven As Perfect Crisis Security
As one global macro investor put it:
BITCOINERS: Hearing guys whine that btc is krap, not a hedge, not digital gold, it’s going to zero etc..stfu. Btc is the only true free market in the world. Btc is the only asset that can go down 50% in one day and doesn’t need govt intervention to stabilize. It will be fine.
Meanwhile, a Satoshi Nakamoto Institute founder, Pierre Rochard pointed out:
Bitcoin has proven itself to be easier to liquidate than:stocks, bonds, real estate, gold. All thanks to 24/7 final settlement and 24/7 exchange trading.The smart money is learning this.
He also added:
Bitcoin proved that it is the ultimate safe-haven asset yesterday (March 12). Even in a crisis, the network stays up, the exchanges trade 24/7, and the market found a healthy clearing price – well above the 2015 low. Very impressive!
That’s true! Contrast the liquidity of Bitcoin during the sell-off with Wall Street “circuit breakers,” blocking people from trying to sell. What’s free market about that? Or multiple reported outages on stock brokerage apps like Robinhood and even Fidelity. After the past month, Bitcoin is clearly the instrument you want to have your savings in during a financial crisis.
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