They need to act quick before the great bank run of 2023 goes into full swing.
There are 4,157 commercial banks in the USA.
1 of them, SVB, went tits up and Bitocin jumped several thousand dollars.
What happens when the remaining 4,156 banks go under?
$2,000 x 4,156 banks = $8,312,000
The price of Bitcoin will be $8,336,000 when all is said and done.
Almost all banks are getting rekt today. The only exception is the bank of bitcoin, which remains solvent and on a strong footing.
They will likely scoop it up for pennies on the dollar
Credit Suisse daily chart looks like a shitcoin. It is only a matter of time before this company goes tits up.
Introducing new incentives for Bitcoin miners to change priorities, so that blocks are filled with fewer transactions and replaced with something else, is opening the door for an attack on Bitcoin.
The attack may never be realized, but the threat will always be a possibility.
Don't discount Canada. We are a dark horse (with a painted face) in this race and we could blink next.
Expect an all out attack on Bitcoin in the near future.
It is a matter time before others do the same. It will be done in the name of consumer protection, yet it is the banks are poised to fail.
Several UK banks are starting to put up restrictions for their customers to put money into exchanges for buying Bitcoin. This same restriction will soon be coming to a bank near you.
Insuring bank accounts from $250K to an unlimited amount, coupled with a drop of faith in the banking system, has made buying and holding Bitcoin looking to be more and more desirable.
Cramer: don't buy Bitcoin
Bitcoin jumps to 26K
The Cramer effect is strong.
The Fed is not only printing money. They are also minting new Bitcoiners as normies remove the blinders from their eyes.
We all knew the financial world was fucked. We just got validation of it.
Veteran bank analyst Dick Bove "The accounting of banking in the United States is garbage".
Until he starts promoting Bitcoin, he will always be a small dick analyst.
USDC is back to parity
When Biden was tweeting about ridiculous overdraft fees, what we failed to realize is that it wasn't from the customers perspective. He was advocating for banks showing a negative balance sheet with the Fed and being subjected to high service fees.
Long live the 60/40 investment plan
60% bitcoin and 40% sats.
Leaving your funds in Silicon Valley Bank is basically risk free.
