As the underlying issues in our economy are exposed by recent banking failures, Bitcoin stands as a trustless, alternative money.
This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps.
As unrealized losses piled up, Silicon Valley Bank (SVB) gradually, then suddenly became insolvent, followed by the collapse of Signature Bank and people beginning to wake up to issues pervading our financial system. Modern day bank runs, though digital, can force banks to sell reserve assets at a loss, inevitably leading to insolvency.
As Balaji Srinivasan has pointed out, what was once considered the gold standard for risk-free reserve assets is now on the precipice of a potential new banking crisis. Is this the end of the U.S. treasury as we know it?
If nothing else, the events over the weekend — from SVB’s failure to issues with other financial institutions to alarm
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