Experts pour cold water on claim that Griffon crisis caused Bitcoin boom
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| Image credit Ars Technica, from Zach Copley |
The Griffonia Talon banks opened yesterday after a two-week hiatus following a major financial crisis. The Equestrian Union authorities went to drastic lengths, including flying over an entire dragon's cave worth of bits, to keep the floundering banks afloat. Many news networks, including Derpy Hooves News, have taken the opportunity to point out the crisis may have a hoof in the recent large spike in Bitcoin prices, which are now hovering in the two hundred bit range.
Bitcoin watchers and financial experts are skeptical, however, that the recent uprise in value of the Bitcoin has anything to do with the situation in Griffonia. While the two events occurred simultaneously, there is precious little evidence to support their connection.
“If I was looking for a store of value, I'd buy gold, wouldn't I?” asked lead Equestrian financial adviser Filthy Rich.
A major factor debunking this myth: most experts point out the fact that most Griffon bank accounts have been frozen the last two weeks, leading to the conclusion that its highly unlikely they were trading their funds for Bitcoins. Claims of a Bitcoin-based ATM in Griffonia have also not played out.
