Billionaire Prince - Could Uncertainty Boost Bitcoin?
Bitcoin rises when governments screw up
Misconduct by governments, either in the political or monetary space, results in people trying to find safe havens for their wealth. Traditionally this has been gold, but Bitcoin is fast developing as an alternate safe haven, with its decentralized and boundary-less nature.
The Middle East is strategically important, both because of its vast oil and natural gas reserves and the tremendous wealth of its citizens. If rich sheikhs in the Middle East think that parking a fraction of their wealth in Bitcoin makes sense given the uncertainty in the region, Bitcoin's price could scale new highs.
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