Bitcoin surges as banking system faces crisis and buyouts.
TL;DR Summary
Bitcoin surged as much as 4% on Monday amid fears of an ongoing banking crisis that started with the downfall of Silicon Valley Bank earlier this month and has now led to the takeover of Credit Suisse by UBS. The decentralized cryptocurrency appears to have finally found its time to shine as many of its long-talked-about attributes are front and center amid a run on banks and interventions by governments and central banks to instill confidence in global finance.
- Bitcoin price soars to 9-month high after Credit Suisse takeover by UBS Markets Insider
- The end of the 'everything bubble' has finally hit the banking system. Credit Suisse and SVB might be just the first of many shocks. MarketWatch
- Credit Suisse’s Buyout Shows Banks Still Have a Banking Problem CoinDesk
- Bank collapses are spurring interest in self-custody startups Cointelegraph
- Bitcoin is up over 40% since the March banking crisis began Finbold - Finance in Bold
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