Banking crisis leads to Bitcoin bull market, says Crypto expert

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.

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York – the business capital of the world – FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.


You May Also Like

About the Author: Lauren Dillon

Lauren Dillon is a crypto-journalist with years of experience covering the industry. She has a deep passion for spreading awareness about the potential of blockchain technology and its potential to improve the world. She holds a degree in business information technology and decades of experience in marketing software and consulting services.