Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says

According to Trezor’s Bitcoin analyst Josef Tetek, the current sharp rise of Bitcoin price — which is the fastest rise in price so far in 2023 — appears to be a direct result of the “apparent fragility of the banking system.”

“The current events are a timely reminder of why we need Bitcoin,” Tetek said, adding that the current events are not so good for many crypto businesses and assets that are centralized, referring to Circle’s USD Coin . The analyst stated: According to Tetek, the recent events with Silvergate and SVB clearly show that counterparty risk in the banking system is a “serious problem,” though it is sometimes well hidden. He added:

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According to Trezor Bitcoin analyst SatsJoseph the current sharp rise of Bitcoin’s price — which is the fastest rise in price so far in 2023 — appears to be a direct result of the “apparent fragility of the banking system.”

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