Bitcoin surges as banking system faces crisis and buyouts.
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.