Could USDC's loss be Bitcoin's gain?steemCreated with Sketch.

in bitcoin •  2 years ago 

USDC could be in major trouble, but that doesn't necessarily mean Bitcoin is

I have noticed something interesting ever since the revelation that USDC is in trouble...

Bitcoin has been bouncing.

Why has it been bouncing?!

Most likely it is bouncing because people are starting to realize bitcoin, not crypto.

They are understanding that USDC is a centralized model that can implode at any moment and btc is the liferaft.

It will be interesting to see if USDC does actually implode and how much of that money goes into bitcoin, but as it stands right now, some certainly is...

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(Source: https://bittrex.com/trade/btc-usd)

It would be ironic that while the rest of crypto burns, bitcoin bounces...

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