The coronavirus is bringing destruction to financial markets and putting tremendous strain on the economy, as the world has essentially stopped in its place, both in fear and in requirement, as it’s the only way to stop the rapid spread of the outbreak.

With transportation, production, manufacturing, and even entertainment impossible, the economy is spiraling out of control, and markets are reflecting a civilization in complete panic.

Financial Markets in Utter Chaos

The pandemic caused the stock markets to experience the worst weekly selloff since 1987, crushing the numbers from 2008 during the Great Recession. Records have been broken on nearly all timeframes across all markets, and the initial impact of the coronavirus is only just starting to be felt across the globe.

Assets that are normally safe havens, like precious metals, gold, silver, and others, all tumbled alongside stocks wiping out more than two years of gain and trillions of dollars from the market.

Markets are having a liquidity crisis, as investors cash out everything they can and then some, fearing a possible recession, coming inflation, further collapse of the stock market, and a possible end of the world as we know it due to an out of control virus.

Economy Impacted By Coming Crisis

Recession is already here, with unemployment rates already skyrocketing as a result of the impact of the pandemic.

The economy is crumbling under decades of greed. Policymakers are losing control. The government is overspending on bailing out companies that fattened executive wallets rather than stockpiling cash that could have saved employees from layoffs during times like we are currently facing.

Inflation is a given at this point, and the dollar is facing its darkest hour as the global reserve currency. Amidst the darkness, could shine Bitcoin, the first-ever decentralized cryptocurrency, born during the last major financial crisis.

Why Bitcoin Is The Answer To Recession

Bitcoin may have also recently experienced a record-breaking drop in value alongside stocks in March 2020, showing the largest ever correlation with the stock market since the asset was first conceived, it has otherwise been mostly uncorrelated, and is an asset unlike stocks or traditional equities.

Bitcoin has attributes that make it far more similar to a commodity than a stock, and shares many similarities with precious metals, earning it the nickname “digital gold.”

It earned the title due to the asset’s hard-coded scarcity. Only 21 million Bitcoin can and will ever exist, and with the way the complex cryptocurrency is designed, even more of them are locked away and lost forever.

The delicate balance of demand and the incredibly limited supply of the asset is thrown off around each and every halving, an event where the reward miners that operate the underlying blockchain network receive for doing their jobs and maintaining the protocol, is cut in half.

This design choice gives Bitcoin a deflationary aspect that is complete opposite that of fiat currencies. And in a world where the potential collapse of the dollar and other fiat currencies could be near due to the coming inflation, Bitcoin could be the best answer to all of the problems these archaic currencies have caused over the years.

It’s a dark thought, but in a world where the government could seize individual assets to pay off its debts and avoid default, banks are shut down due to coronavirus, or cash continues to be a carrier of the highly contagious virus, Bitcoin could be the best chance society has for a working currency that can be accessed without contact, and out of the reach of greedy government officials.

Buy Bitcoin As a Hedge Against Inflation

It sounds simple, but it all starts with buying Bitcoin.

Bitcoin is a cryptocurrency and can be purchased at a cryptocurrency exchange. USD or other currencies are traded in exchange for Bitcoin.

What you do next with the Bitcoin is up to you. However, it’s recommended that either you keep the Bitcoin in cold storage, locked away outside of the reach of the government or any other third-party on the blockchain, or move it to a trading platform to take advantage of the cryptocurrency’s infamous volatility.