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Gareth Soloway: China's Bank Run Helps Bitcoin
More political and financial turmoil hit the world news, as bank runs in China caused an uproar. While bank runs and failing institutions are nothing new, when it comes from a major financial powerhouse like China, it appears to hit close to home. Many faithful depositors have demanded their money, amidst financial instability in four rural banks in China's central Henan province. As reported by CNN, Since April, four rural banks in China's central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns. Of course, many Bitcoin enthusiasts saw this as an opportunity to reinforce the importance of decentralization and securing your own money. As a guest on the Paul Barron Network, trader and analyst Gareth Soloway gave his take on the effects that the bank run and the overall sentiment on the economy will have on Bitcoin. Although Bitcoin won’t see an effect in the short term from this collapse, Soloway believes it will bring awareness to the flagship cryptocurrency, as more and more people will look for alternative ways to secure their financial future.
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THIS INTERVIEW WAS POSTED ON JULY 11, 2022
Listen to the full unedited interview here ⬇ [Credits] 🙏
China's Bank Run Effect on Bitcoin w/ Gareth Soloway LIVE
https://www.youtube.com/watch?v=XJWPjR8zfwM
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🎵BACKGROUND MUSIC licensed through AudioJungle & Epidemic Sound
🎥FOOTAGE licensed through VideoBlocks and Filmpac, except parts about the topic that have been used under fair use.
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FAIR-USE COPYRIGHT DISCLAIMER
Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, commenting, news reporting, teaching, scholarship, and research. Fair use is a use permitted by the copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use. -This video has no negative impact on the original works (It would actually be positive for them) -This video is also for teaching and inspirational purposes. - It is not transformative in nature.