What The Coronavirus Means For Crypto

Perhaps the coronavirus crisis is an opportunity for us to fix the broken link between value and price in today’s society. These days, it’s almost normal to find out that oil prices are negative. And people called cryptocurrency a scam… All jokes aside, we are living through strange, fearful and interesting times.

In the midst of this crisis, Ethereum has been making more and more appearances as a settlement mechanism on Bloomberg terminals. Popular cryptocurrencies such as Bitcoin and Ethereum have bounced around, but prices are in the same range they were in before the coronavirus crisis began in the beginning of the year. Bitcoin, Ethereum and other popular cryptocurrencies have a notorious history of disconnection between utility and price. Today, you might even see this as a benefit and call it “experience” that might help the current global financial system.

Meanwhile, the Federal Reserve has injected trillions of dollars into the global economy and doesn’t show signs of letting off the gas if need be. Meanwhile,

People are starting to re-examine unwavering faith in the current prevailing Western financial systems. I’ve talked with many friends in the financial services sector who have expressed renewed interest in crypto markets due to this.

There are some very smart people in the fintech industry. There’s a lot of work being done to introduce new mechanisms that reconnect price and value in our disjointed financial system. We are one of many companies working with institutions, both large and small, to apply some of the better aspects of crypto-economics to today’s ailing system for improved societal outcomes.

“When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.” -JFK