RATE Group | New crisis in the Middle East: Good for bitcoin, bad for the world
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New crisis in the Middle East: Good for bitcoin, bad for the world

04 Jan New crisis in the Middle East: Good for bitcoin, bad for the world

Posted at 00:00h in Cryptocurrency News by

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At approximately 02.30 GMT today a US drone strike killed senior Iranian military leader Qasem Soleimani at Baghdad’s international airport. The event triggered a dramatic escalation in tensions in the region, with oil prices surging on the news. Bitcoin was not far behind; bouncing back from under $7k, the cryptocurrency’s price proceeded to jump over six percent within hours of the attack.

But while a surge in bitcoin’s price would normally be an occasion for celebration among bitcoin maximalists, today’s news met with a muted response on crypto twitter, and even denial. If the unwelcome prospect of another war in the Middle East is the price of bitcoin’s success, is it one crypto enthusiasts are willing to pay?

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