Geopolitical Crisis May Benefit Oil, Gold and CBDCs, Not Bitcoin
Demand for gold is skyrocketing and the clamor for scarce assets in a remote-first world was precisely where bitcoin was supposed to shine. But it's complicated.
Bitcoin is a cryptocurrency which isn’t managed by a bank or agency but in which transactions are recorded in the blockchain that is public and contains records of each and every transaction that takes place. The cryptocurrency is traded by individuals with cryptographic keys that act as wallets. Bitcoin was first invented in 2009 by an anonymous founder known as Satoshi Nakamoto. Bitcoins are moved in blocks every 10 minutes on a decentralized ledger that connects blocks into a coherent chain dating back to the first genesis block. It was originally described as a peer-to-peer electronic cash but the technology has evolved to emphasize being a settlement layer rather than a payment network. This has left integrated second layer solutions, like Lightning Network, to prioritize that use case. It has remained the largest cryptocurrency by market cap.Bitcoin 101
In a role reversal befitting these topsy-turvy times, Wall Street has recently seen more turbulence than the average for the top cryptocurrency.
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