Bitcoin's Market Cap Soars as Wall Street Banks Falter and Warren Buffett's Bet Falters.
TL;DR Summary
Bitcoin's market capitalization has grown by 66% year-to-date, outperforming top Wall Street bank stocks, which have lost nearly $100 billion in market valuation since the year's start. Bitcoin has also decoupled from US stocks for the first time in a year. The rise of Bitcoin in the face of a growing US banking crisis is similar to how it reacted during banking collapses in Cyprus and Greece, prompting some investors to see it as a hedge against systemic risks.
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