The worst banking mess since the 2008 financial crisis has increased investors’ fear of a global recession. As a result, the investors’ perspective on Bitcoin and Ethereum, among other digital assets, has significantly shifted to less risky instruments. With the rising global inflation, holding on to fiat currencies continuously depreciates investors’ cash value. On the other hand, Bitcoin price is up nearly 70 percent YTD amidst global financial instability.
Investors have extensively understood the risk versus reward ratio for top digital assets is more attractive compared to the traditional stock markets. Moreover, the Web3 industry has gained significant momentum over traditional financial institutions in recent years. Additionally, blockchain technology has proved more resourceful to mainstream adoption through smart contracts to streamline global supply chain management.
Consequently, the banking stocks are expected to ditch further worldwide in the coming quarters, despite the decisive actions. Y different governments to print more money to bolster traditional financial institutions.
In a recent YouTube video by altcoin daily, three financial experts — Chris Burniske, the former crypto analyst at Ark Invest, Mike McGlone, a senior macro strategist at Bloomberg Intelligence, and Robert Kiyosaki, famous author, and entrepreneur — unanimously agree the banking crisis is the trigger that will send Bitcoin and Ethereum to massive price explosions.
McGlone indicated that Bitcoin would likely outperform all other crypto assets due to the massive global adoption. Moreover, McGlone stated that investors are optimistic about Bitcoin overrunning Gold’s market capitalization.
Kiyosaki discredited veteran investor Warren Buffet for calling Bitcoin, and other cryptocurrencies zero intrinsic value assets. Notably, Buffett once referred to Bitcoin as a rat poison squared and eventually thought BTC value would fall to zero.
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