Bitcoin prices surged to start out the week, tacking on another 4% impressively. This comes at a price, maybe not for you or me, but a little island “nation” off the coast of mainland China called Taiwan. These people are on the brink of invasion and potentially worse, but that doesn’t really matter — would you believe this is actually incredible for your crypto portfolio?
Everyone knows China’s separation anxiety with Taiwan is something akin to what traders really feel in their gut when Bitcoin drops 1%. Sure, crypto traders and Chinese dictators don’t have much in common, but what they do share is the nuts to double down when they need to whether it’s exterminating a people or buying the dip on Dogecoin.
While the war drums might be ringing in the South China Sea, to you it should sound an awful lot like the opening bell. And it’s the crypto sharks that are feeding off this frenzy.
The simple economics of brutal dictatorships explain Bitcoin’s recent gains as Taiwan approaches its ultimate demise. Currency becomes obsolete as people will inevitably turn to eating their shoes, actual currency, and maybe even children, BUT you can’t eat crypto and it’s a good store of value for situations like that. Not to mention, no one knows the exchange rate for the Chinese yuan, but everyone knows the exchange rate for Bitcoin.
Right now, many people don’t believe Taiwan is a country, just ask Fast 9 star John Cena. There’s many that don’t believe in crypto at all, but crypto may be more real than whatever country we were talking about. So would anyone really miss some island if we made an extra $5000 on Bitcoin?