- One of the biggest concerns throughout the world right now is the coronavirus.
- And when he comes to the cryptocurrency industry, these fears are equally in play.
One of the biggest concerns throughout the world right now is the coronavirus. It has been spreading all over the world and it seems that it is days away from being declared a pandemic by the world health organisation. And when he comes to the cryptocurrency industry, these fears are equally in play. One of the biggest issues and worries coming along with the virus is for the global economy which is currently being affected due to the aforementioned worries.
The stock market in the United States has been falling at quite a significant rate with the DOW recording its highest one-day points fall in history as sell-off pressure tells on the stock market. More panic has been going around as a result of this.
Co-founder and CEO of Cardano, Charles Hoskinson has said that there is a way to alleviate such concerns. Writing in a post published on Twitter, Hoskinson said that cryptocurrency is the only reliable hedge against pandemics such as the coronavirus. He further stresses that the stock market is more than likely to fall and the government will collapse with the coronavirus spreading. Despite this, digital assets will remain just that, digital.
This begs the question as to whether cryptocurrency is the answer to the short fallings of the traditional stock market. Hoskinson has always believed the digital assets are the solutions to all the plagues that impact the global economy. He’s even said that his own cryptocurrency, ADA is going to be the biggest digital asset in the world in the future.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!