Bitcoin Safe Haven Proof - Major Bitcoin Wallet Provider Having Record November
With Donald John Trump preparing to serve as the 45th President of the United States, in many ways the world will never be the same again. A man who has never served in politics or the miliatry, he is seeking to force America, and the wolrd, to change the way they’re doing business.
Well, Presdient Trump hasn’t even entered office yet, and he is already changing the way people handle their finances, as Blockchain, the world’s largest Bitcoin wallet provider, has announced that the Trump election has set a record for Bitcoin activity in their platform, both for a single day and for a month.
The Trump Train Pulls Into Bitcoin’s Blockchain Station
The election of Donald Trump seemed to catch the mainstream off-guard, and forced them to make a decision when it came to protecting their wealth. Bitcoin price spiked over $30 USD within the hours of the election results, as fear of the unknown shook the markets. Apparently, this may have even forced some in the mainstream to get a Bitcoin wallet, fast.
Quote
"People are basically hedging against economic instability,” Blockchain CEO Peter Smith told Business Insider. “It's a worrying time to be holding a lot of British pound or if you're America, people flee to safe haven assets. Bitcoin is one of those. It'll be the first month where millions and millions of people use us. (Election Day) was the biggest single day increase we've seen in the last year.”
Smith would not go into great detail, but this quote implies that many people, millions, used Bitcoin over the course of a day or two who had never used Bitcoin or Blockchain before. Not much of a stretch to say that many, many new Bitcoin wallets and users were gained by Blockchain, so you could also infer that Bitcoin is making all kinds of network user gains just from President Trump’s election.
For those who may be new to Bitcoin, for all of the rhetoric and propaganda put out by the mainstream media about Bitcoin and its safety, people have been using Bitcoin as fianncial “safe haven” since 2013. Bitcoin his the global scene back in the Spring of 2013 during the “bail-in” within the small island nation of Cyprus, in the Meditteranean Sea. Bitcoin values exploded to record highs, while Gold and Silver moved hardly at all as people looked to avoid economic disaster from the legacy banking system’s atatck on investors.
Mainstream icons like Reuters, Fox Business and Bloomberg have reported on other spikes in Bitcoin demand during time of massive economic turmoil. The “Grexit” in the summer of 2015 and the “Brexit” earlier this year are other examples of a massive influx of Bitcoin investment for investors seeking a “safe haven” in the short term. Bitcoin values have increased over 60% so far in 2016, outpacing Silver returns 2:1 and Gold returns 3:1.