The Real Use Case of Crypto During Global Instability

[Glowy]

During periods of geopolitical tension and economic uncertainty, do people actually turn to crypto as financial backup or is that narrative still mostly theoretical?

Am just thinking out loud!

[Charles-Tim]

We have no clear information about this yet in short term speculation, but bitcoin has performed well after it will fall a little when war starts, it increased back within a day or two days and may even increase higher. In long term, bitcoin price increase and get to all-time high. So despite no clear certainty yet, it is still highly advisable to buy bitcoin during economy uncertainty if you are not planing to sell it within a short period of time.

I am not referring to crypto, I am only referring to bitcoin which is the only one that I trust amount them.

[goldkingcoiner]

During periods of geopolitical tension and economic uncertainty, do people actually turn to crypto as financial backup or is that narrative still mostly theoretical?

Am just thinking out loud!

I think cryptocurrency is too young for the majority of people to trust it in times of crisis. They turn to what they know: Gold and cash.

Personally, I would go for Bitcoin because I understand why it is a more secure store of value than gold. But gold has that irresistable physical quality that Bitcoin does not have.

P.S. This thread does not belong in this section. It has nothing to do with securities. I recommend moving it to a more relevant board like economics.

[TheUltraElite]

Geopoliticial instablity would lead to problems in internet and currencies. I think cash would become king. Internet comes when stability is established and hence crypto gets less importance here.

There have been thread discussing what whether bitcoin would rise in public use when countries get damaged after wars. The general answer to this is that after wars and all, the immediate focus is going to be daily needs, sanitation and healthcare and not things inside the internet bubble.