BTC To Serve as ‘Safe Haven Asset’ During U.S Government Shutdown
Bitcoin BTC To Serve as ‘Safe Haven Asset’ During U.S Government Shutdown 2 mins ago Bitcoin Ethereum Nachrichten CryptoBusy explained that a US government shutdown could have a positive effect on Bitcoin. The educator said that investors will turn to Bitcoin as protection against inflation. The news about the US government shutdown pushed Bitcoins price up by 2%. In a recent tweet, crypto educator CryptoBusy explained how a US government shutdown will push investors toward Bitcoin “as a hedge against economic uncertainty.” The BBC reported how the US government prevented a federal shutdown by reaching an agreement on a short-term funding deal on October 1. US President Joe Biden signed the bill into law, ensuring funding until November 17. The Twitter influencer shared that during a government shutdown, investors might view BTC as a “safe haven asset” against inflation. Moreover, amidst the temporary inactivity of government agencies, crypto can potentially experience fewer regulatory restrictions. Additionally, CryptoBusy emphasized the vulnerability of fiat currencies by noting: This also highlights the instability of traditional fiat currencies, boosting interest in decentralized cryptos like BTC. In the last week of September, when traders became more optimistic about the possibility of a U.S. government shutdown, Bitcoin and other cryptocurrencies saw an increase in value. In just 24 hours,