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6 Explanations for Crypto's Fascination With Coronavirus
Is it about self-sovereignty? About BTC as a reserve asset? Or are we just Chicken Little prophets of doom?
Updated Sep 13, 2021, 12:21 p.m. Published Feb 25, 2020, 8:00 p.m.
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We're concerned about coronavirus, but why? Is it about self-sovereignty? About BTC as a reserve asset? Or are we just Chicken Little prophets of doom?
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The spread of Coronavirus has dominated the news cycle across industries, but the discussion has been particularly fierce in both the finance and tech worlds, with crypto right in the lead.
For a month or more, prominent crypto voices have been discussing the event in terms of skepticism of reported government cases, questions of market impact and plans for personal preparation.
NLW surveyed more than 1,500 people on Crypto Twitter to ask why the crypto community was so interested in the Coronavirus.
These were the top answers:
There has been a ton of Coronavirus talk in bitcoin/crypto circles.
— Nathaniel Whittemore (@nlw) February 24, 2020
Why do you think that is?
A) We’re “sky is falling” types/prophets of doom
B) We’re more hedging-macro-risk oriented
C) Belief that BTC can/will act as safe haven
D) All of above
E) Other (use comments)
This episode of The Breakdown also features an excerpt from Hidden Forces Ep 123: Market Nihilism: Price Discovery in a World Where Nothing Matters | Ben Hunt & Grant Williams
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