We got asked: why would people still buy Bitcoin in a pandemic?

Economic concerns. The pandemic actually arrived a time when many major economies were already stressed, the cyclical slowdown coinciding with lockdown that basically forced businesses to cease operations means productivity has gone down globally and jobs have been cut down.

So we’re facing with already-contracting economies, further joblessness, putting a squeeze on incomes. So, governments everywhere are printing more money as stimulus, putting cash in people’s hands so they can continue spending and keeping businesses and economies afloat.

Next step is inflation. Money supply increases, so value drops. We’re already seeing dollar crises in Lebanon, Venezuela, Argentina.

How do people store value and prevent what they’re earning today from being worth nothing in a day or weeks? Well, they used to buy gold. But how easy is it to buy gold, protect it, and then liquidate it when you need to spend?

Bitcoin’s the new answer to that these days. Easily bought and sold online in every country (even where it’s legally banned!).