The banking crisis in the United States has affected the public sector and investors who are seeking alternatives, where Bitcoin emerged as a winner in this crisis. This digital currency has attracted many investors, adding $219.86 billion to its market value during the period from January 1, 2023 to March 20, 2023.
On the other hand, five of the largest US banks lost cumulatively $108.92 billion in market capitalization during the same period. It seems that Bitcoin has attracted some investors who are trying to deal with banking chaos, and found in Bitcoin an available and attractive alternative for investment.
Results indicate that Bitcoin is more stable than traditional banking stocks, but it is more volatile. It should be noted that Bitcoin and bank stocks are not in the same category of assets, but banks are supported by tangible assets and the company’s success, while Bitcoin is not supported by any solid assets and its value depends on market probabilities and expectations.