Bitcoin Good or Bad News Credit Suisse Credit Suisse Bankruptcy Bankruptcy Bankruptcy Default Financial Crisis
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Today, we will look at the relationship between the bankruptcy and bankruptcy (default) financial crisis of Credit Suisse (Credit Suisse) and the good news of Bitcoin.
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Credit Suisse Credit Suisse Bankruptcy Crisis
Credit Suisse is on the brink of bankruptcy.
A tweet that Credit Suisse may go bankrupt has been in the news since Saturday.
“A major international investment bank is on the brink,” David Taylor said from a trusted intelligence agency.
Then a person named 0xHamZ
Smells from Credit Suisse.
Investors put the condition that the bank has been healthy for the past decade.
If you can read the financial reports, you can see the discrepancy in the balance.
Credit Suisse Credit Suisse still has a document stating that there is a problem with the financial stability.
Credit Suisse and Deutsche Bank are said to be the most at risk.
It is the CDS price in Credit Suisse that shows just how risky it is.
A CDS is an insurance policy that will provide you with money if Credit Suisse goes bankrupt.
Currently, insurance prices on CDS have risen very high.
That level is the same as the 2008 Lehman Brothers bankruptcy financial crisis.
The stock price of Credit Suisse.
Over the past five years, we’ve seen a huge price drop.
It has plummeted about 80% from the level of nearly $20 to less than $4 today.
It is very unusual for a bank to have this level of decline.
In Block Media, Credit Suisse published an article under the title Deja Vu of the Lehman Crisis.
The reason Bitcoin was born in 2009 was to break away from centralized banks and achieve a decentralized financial world.
The reason for the birth of Bitcoin can also be found in the genesis block of Bitcoin.
A Bitcoin genesis block is a block created when Bitcoin was first created.
The Bitcoin genesis block contains the following text:
This article was published in the Times on January 3, 2009.
The UK’s finance minister says he’s ready for a second bailout of banks.
It was about helping financial institutions that had suffered a lot when Lehman Brothers went bankrupt with a bailout loan from the UK.
The government bails out many banks.
The reason the government gives bailouts to banks is that bankruptcy has a huge ripple effect on the nation and the people as a whole because the size of the bank is very large.
Therefore, even if the bank makes a mistake, only the poor who have received a bailout have to raise interest rates and repay their loans quickly.
Also, the attitudes and behaviors of employees of financial institutions who received bailouts are often difficult to see.
In the case of Lehman Brothers, it is said that they did not have money, so they received a government subsidy, a bailout, and gave bonuses to their employees.
It is said that $2.5 billion, or 3.6 trillion won, was spent on employee bonuses.
Incentives can only be received after performance, but when the money is generated, the money that should be returned to the people is used for the employees’ banquet.
As mentioned earlier, Bitcoin was created for this reason.
Bitcoin is the first attempt to correct the mistakes of centralized banks and to implement the financial world in a decentralized world.
Credit Suisse The fact that centralized financial systems like Credit Suisse went wrong further reinforces the reason for Bitcoin’s birth and may serve as the strongest bullish news.
So will Bitcoin really rise if banks like Credit Suisse go bankrupt?
It’s not like that again.
If you look at the recent movement of Bitcoin, it is very similar to the financial market.
The reason Bitcoin behaves similarly to financial markets is that Bitcoin is also an asset, and when the value of other assets decreases, Bitcoin tends to be affected as well.
As an example, I believe that the reason Bitcoin was able to rise to $69000 last year was due to the quantitative easing of the centralized institution, the FED, and I think the current decline is due to the quantitative tightening of the FED.
Although born for decentralization like this, because of the investors affected by the centralized institution, it follows the centralized institution’s policies to some extent.
However, if the financial industry collapses, and if the reason for Bitcoin’s birth spreads more widely and clearly and quickly to people around the world, there is ample potential for Bitcoin’s massive rise.
Currently, it maintains KRW 28,212,000.
Got a little higher today!
If Bitcoin went up because of Credit Suisse’s bankruptcy, it should have gone up even with the risk of Credit Suisse’s bankruptcy, but I don’t think I’ve seen that much special rise.
We don’t yet know when Bitcoin will power up and see massive gains, but I do believe that when a financial crisis comes, it will likely see fewer declines or even bigger gains than other assets.
That’s why Bitcoin was born!
Cheers as Bitcoin rises sharply, breaking through $69,000 again and sprinting to $100,000!