Bitcoin has risen 48% since the start of 2023, far outperforming gold, and this may be due in part to the coronavirus, said Clem Chambers of Investorshub.com, who considers the largest cryptocurrency to be the “flight asset of choice”.
“Bitcoin is now proven to be of use, because you can buy it and turn it into fiat very, very quickly and very, very easily international. So, if you had to make plans quickly, as a lot of people in Asia I’m sure are worried about being kettled in their cities, not just in China, you’d want to have the ability to take $100,000, $200,000, a million five million dollars worth of assets abroad with you,” Chambers told Kitco News.
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