Since the pandemic, the usage of bitcoin has risen and its purchase has been done in bulk, in fear that the currencies led by central banks may be debased. People who have just seen the rise of technology and might not be that accustomed to it may have a few eyebrows held up, in suspicion and prefer to invest in gold instead. Nonetheless, bitcoin’s fluctuations often led its price to rise above that of gold twice or thrice its price.
Even though the majority still aren’t using any cryptocurrency, the number is hiking. Which may be due to the dollar’s shortcomings, as the debts of the US has exceeded 50% of its economic output and continued to borrow throughout the lockdown. With the incrementing distrust in the dollar increases the trust in bitcoin so many businesses are starting to use bitcoin for trading, especially in places where the dollar is a difficult medium to use. PayPal has begun to start storing bitcoin as well. If the US doesn’t manage to improve its conditions, bitcoins’ will certainly accelerate.