Bitcoin Foundation Chairman Brock Pierce reacts to bitcoin breaking away from stocks after multiple banking crises on ’Cavuto: Coast to Coast.’
Brock Pierce, Bitcoin Foundation Chairman, recently spoke to Fox Business about the recent surge in Bitcoin prices. He attributed the price rise to a banking crisis that started with Silvergate Bank, then Silicon Valley Bank, and now Credit Suisse. According to Pierce, this crisis has created a bull market for cryptocurrency, and Bitcoin has been a big winner.
He added that the banking crisis is not a good thing for everyone and hopes it does not worsen, but it has had a positive impact on the crypto markets. Pierce also discussed the changing nature of banking and how it is moving towards digital and mobile, with traditional retail branches becoming less relevant.
Finally, he talked about the difficulty in finding a safe place to trade cryptocurrency and the need for regulation to provide clarity in the industry.
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