Like many of you, I’ve been staying home anxiously following the news, getting angry at all the injustices, and feeling helpless amidst the uncertainty of all COVID-19 has brought us. As a crypto enthusiast, the light at the end of the tunnel is that Bitcoin is starting to work the way it’s supposed to. Currently BTC is up more than 30% to CAD this year, holding steady while most other assets are down.
The economic decline has pushed many Canadians to the brink. It’s easy to get frustrated over the stay-at-home protests. Open the economy up too early and we might be right back where we started, open it up too late and there might be only a fraction of the economy left. It’s a fine balancing act. Beyond the philosophical dilemma it’s unproductive to hear political leaders label the protestors as “a bunch of yahoos”, furthering the ideological divide instead of starting dialogues. Equally concerning is to see these protestors congregating in public when first responders, doctors, and nurses are risking their lives everyday to save us. Anyone pushing to open the economy too early will only be seen as selfish and unwilling to do their part to get through this tough time.
Covid-19 has brought along many threats to common sense, freedoms, and civil liberties. Sure the new laws passed are meant to be short term measures lifted after the pandemic is over, but if history tells us anything, some form of the new legislation will stick around long after it’s needed and possibly used with unintended consequences. How important is it to ticket someone doing chin-ups alone after a run in the park? Or fine a father for taking his kids rollerblading in an empty parking lot? Setting up a snitch line to turn neighbours against each other… and the list goes on. I wonder what effects the crumbling of common sense is having on public goodwill.
One lesson to be learnt from this crisis, and many others like it, is that you can never depend on the government for your financial future. Investing in Bitcoin and other crypto assets is a way to use your voice from the safety of your own home, voting financially, and exercising power. If you’re unhappy with the new restrictions and how the government is handling the situation, you have a way out. You have access to a global economy, open 24/7, that doesn’t exclude or give special privileges to a select few, and can’t be shut down. We’re going to be facing fiat currency inflation like we’ve never seen before but unlike recessions of the past, we now have a lever in Bitcoin.
Like it or not, we are all in this together. We need to make our voices heard, and we don’t even have to go outside to do it. Let’s keep the government accountable by hedging against CAD and investing in crypto. When public protests are rendered useless and money doesn’t mean what it used to, there’s a voice in Bitcoin.
– Evan Kuhn