First Mover: Capitalism’s Biggest Crisis Isn’t Driving People to Bitcoin – It’s the Vola…

“It was the best of times, it was the worst of times.”

The opening line to Charles Dickens’ “A Tale of Two Cities” provides an apt enough description of the moment crypto investors now find themselves in as the coronavirus takes a devastating toll on the global economy, raising ugly questions about the sustainability of the traditional financial system. 

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Bitcoin is up 21% in 2020 to about $8,600. Such a performance contrasts with a 12% loss this year in the Standard & Poor’s 500 Index of U.S. stocks. It also exceeds trusted gold’s 12% gain. 

At the same time, the pandemic has, with brutal efficiency, laid bare some of the structural…