Bitcoin’s been known to freak out when Elon Musk tweets a broken-heart emoji. So why isn’t it flying off the handle as we seem to stand on the precipice of World War 3?
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Crypto has traditionally been user-agnostic. But there’s a bigger dose of reality here for its utopian narrative of “borderless” and “stateless” money as bombs rain down on Europe’s doorstep.
Bitcoin has leapt since Russia’s invasion of Ukraine, bolstered by people in those countries looking to store and move money in anonymous and decentralised crypto.
Bitcoin tumbled to its lowest in a month on Thursday after Russian forces fired missiles at several cities in Ukraine.
Bitcoin miners are feeling the heat – and the pain’s rippling downstream to pressure prices.
Bitcoin dropped to a more than two-week low, tumbling along with equities as escalating tensions between Russia and Ukraine weighed on risk appetite.
Uber Technologies will one day join the likes of Microsoft by accepting bitcoin as a payment option on its app.
The crypto market has been in recovery mode in recent sessions, posting institutional inflows of $85-million last week.
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There are few things scarier for investors than a bear market – unless you’re involved in crypto, in which case a winter is worse.