Bitcoin

Amid several widely publicized closures of <a href="https://finbold.com/category/banking-news/" rel="noopener noreferrer nofollow">banks</a> and even more businesses at risk, a truck displaying an advertisement for Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) was seen outside the headquarters of the now-collapsed Silicon Valley Bank (<a href="https://finbold.com/three-key-takeaways-from-the-silicon-valley-bank-collapse/" rel="noopener noreferrer nofollow">SVB</a>) in California, attracting the attention of the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a> community and media around the world.With the help of several friends, a <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> enthusiast and street artist known as Cryptograffiti has placed an ad for the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset on a truck and parked it outside the entrance to the HQ of the now-collapsed banking giant, <a href="https://twitter.com/cryptograffiti/status/1635796416542158848" rel="noopener noreferrer nofollow">posting</a> the video of the process on Twitter on March 15.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ab4e9abff60c43f582064026b9787dbd.jpg" />The artist’s move, which seems to depict the perceived strength of <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> over traditional <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">finance</a>, with the message to “Be Your Own Bank,” has grabbed the attention of media in other countries, including a local television station in Barcelona, Spain, which aired the story, as <a href="https://twitter.com/omercier/status/1636237933299798018" rel="noopener noreferrer nofollow">shared</a> by Twitter user eVelocity on March 16.<h2 id="header-0">Crypto vs. banks</h2>Indeed, after three major banks were closed within days from each other, the <a href="https://finbold.com/banking-contagion-sparks-crypto-frenzy-investors-rush-to-hodl-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">contagion</a> is threatening to <a href="https://finbold.com/finance-expert-sounds-alarm-these-banks-could-be-next-to-go-as-crisis-spreads/" rel="noopener noreferrer nofollow">spread</a> to more institutions, including <a href="https://finbold.com/guide/buy-bitcoin-with-credit-suisse/" rel="noopener noreferrer nofollow">Credit Suisse</a>, which has recently <a href="https://finbold.com/credit-suisse-stock-surges-25-after-swiss-national-bank-lifeline-announcement/" rel="noopener noreferrer nofollow">announced plans</a> to borrow nearly $54 billion from the Swiss central bank in a bid to strengthen its liquidity and avoid possible <a href="https://finbold.com/economists-dire-warning-credit-suisse-may-be-too-big-to-be-saved/" rel="noopener noreferrer nofollow">downfall</a>.Such uncertainty in the banking sector has resulted in many fearful <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investors</a> fleeing to the crypto market, withdrawing massive amounts of Bitcoin and Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) from <a href="https://finbold.com/guide/best-cryptocurrency-trading-platforms/" rel="noopener noreferrer nofollow">crypto exchanges</a> to ‘<a href="https://finbold.com/guide/what-is-hodl/" rel="noopener noreferrer nofollow">hodl</a>’ despite heightened <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> hostility.Notably, Bitcoin enthusiasts have long argued that the largest crypto by market capitalization had the capacity to act as a safe haven asset and a hedge against inflation, including the author of the <a href="https://finbold.com/guide/investment-books/" rel="noopener noreferrer nofollow">personal finance book</a> ‘Rich Dad Poor Dad’ <a href="https://finbold.com/guide/who-is-robert-kiyosaki/" rel="noopener noreferrer nofollow">Robert Kiyosaki</a>, who <a href="https://finbold.com/robert-kiyosaki-urges-buying-bitcoin-as-more-fake-money-to-invade-sick-economy/" rel="noopener noreferrer nofollow">praised Bitcoin</a> as a <a href="https://finbold.com/r-kiyosaki-says-bitcoin-can-protect-wealth-as-economy-crashes-recommends-side-hustles/" rel="noopener noreferrer nofollow">store of wealth in a possible economic crash</a>.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">Finbold.com</a>.

Bitcoin ad truck in front of Silicon Valley Bank HQ grabs worldwide attention

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Alte articole publicate pe 16 mar. 2023

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