Once again we’re witnessing a crisis with a national bank. And again, bitcoin is rallying on those fears.
First Republic is the nation’s 14th-largest commercial bank. On Monday, the Federal Deposit Insurance Corporation (FDIC) seized the bank and sold its $229 billion in assets to JPMorgan Chase.
It’s now the second-largest bank failure in U.S. history, taking that dubious title from Silicon Valley Bank, which failed in March.
And it’s the biggest bank collapse since September 2008, when Washington Mutual imploded during the Great Financial Crisis.
Before the FDIC seized First Republic, it had seen more than $102 billion in deposit outflows this year. That’s nearly half of the bank’s total assets.
Where’s all that money going?
I believe a great deal of it is headed to bitcoin. It’s been up as much as 9.6% since First Republic began hemorrhaging deposits last week.
Friends, in the span of two months, we’ve seen three major U.S. banks fold. It’s clear we’re in the worst banking crisis since 2008.
In my view, the very wealthy are beginning to see bitcoin as an insurance policy against bank collapses. And they’re getting exposure to this asset class.
Bitcoin Is the New Banking Insurance
I believe very wealthy people who have been looking at bitcoin from the sidelines over the past 10 years are finally realizing banks are in a systemic crisis.
They have exposure to traditional asset classes like stocks, bonds, real estate, and precious metals… But precious little exposure to nontraditional assets like crypto.
I know what they’re thinking: “What happens if I’m wrong, and the bitcoin advocates are right? Why should I take that chance?”
I had a similar come-to-Jesus moment back in 2016.
I had watched bitcoin for years before then. And I thought it was a Ponzi scheme, too.
In 2014, the huge crypto exchange Mt. Gox got hacked. At the time, up to 80% of bitcoin traded through this exchange. And it blew up.
People got locked out of their crypto. Some investors are still trying to recover bitcoin from Mt. Gox almost 10 years later.
After that happened, many people expected bitcoin to go to zero.
So did I…
But the strangest thing happened: Bitcoin came back to life.
From a low of $172 in January 2015, bitcoin eventually climbed to $465 in December that year.
That’s when I realized it was here to stay. So in April 2016, I made my first recommendation at around $420.
Since then, it’s up 7,715%.
Friends, that’s the type of thinking I believe is prevalent among the very wealthy right now.
These people aren’t stupid. They’ve seen bitcoin get the stuffing knocked out of it time and time again – only for it to rebound to new highs each and every time.
They know the costs are high if the traditional banking system blows up on them and they have no exposure to an alternative asset.
Now, am I saying the entire global financial system will melt down? No. It’s a low-probability event.
But there’s still a small chance it happens.
So why not take 0.5%–3% of your investable wealth and dollar-cost average into bitcoin as an insurance policy?
It will protect your wealth against a banking collapse… And as the backbone of the crypto revolution, it’s poised to appreciate much higher from here.
That’s what the very wealthy are realizing.
If the banks go up in smoke, and they lose all of their capital, they have a hedge in bitcoin.
If the banks don’t go broke, they own an amazing technological innovation that will appreciate in price as the blockchain revolutionizes the economy.
You have to really understand this: Wealthy people think about their money all of the time.
It’s how they got wealthy. It’s how they stay wealthy.
I have conversations with them all the time. And they’re thinking, “How long can I sit here and watch so much money get made in this asset while my other assets get devalued and inflation eats away at my cash?”
That’s why I call bitcoin an escape hatch from the traditional financial system.
If you self-custody your bitcoin, no one can charge you any fees on it. No one can inflate it away. You’re essentially your own bank.
It’s completely outside the closed loop of the traditional financial system.
A New Bank Run Will Trigger a Mass Exodus From Banks to Crypto
Friends, we’re living through the worst banking crisis since the 2008 Great Financial Crisis.
And bitcoin is finally starting to show its potential. That’s why it’s the best-performing asset so far this year.
But I believe we’ll see an even bigger exodus from the traditional banking system to crypto… One that will bring trillions into this nascent asset class.
And it could start as early as June 1.
That’s why I’m hosting an urgent online strategy session today at 2 p.m. ET to give you all the details. You can click here to automatically reserve your spot.
Thanks to my connections in the crypto space, I’ve just obtained critical intel that a new banking regime is set to take effect June 1.
This date has been set by the financial authorities involved in this new catalyst.
I believe this new regime will trigger a massive bank run that will open a rare window of opportunity where the impossible becomes possible.
I’m talking about the opportunity to turn $1,000 into a massive six- or seven-figure payout. Just like those who followed my first call on bitcoin had.
Today at 2 p.m. ET, I’ll give you all the details about this new regime.
I’ll also discuss three new coins I’ve never recommended before. And even give away my entire crisis-proof portfolio during the session for free.
This is a portfolio that should do well no matter what happens with the economy. All you have to do is attend to get it. No strings attached.
Just click here to automatically register for my event. And I’ll see you soon.
Let the Game Come to You!