Wednesday, October 18, 2017 by Martin Mavis
The devastating hurricane strike of Puerto Rico proves that Bitcoin’s value collapses to ZERO when the power grid goes down.
Unlike gold and silver, Bitcoin can vanish in an instant.
Podcast Transcript: “Here’s a very timely Bitcoin analysis. Bitcoin’s value in Puerto Rico right now following hurricanes, Irma and Maria that hit and really devastated the island. My prayers go out to all those people and the families in Puerto Rico that we hope are going to be able to get assistance and rebuild. But look. Bitcoin became worthless in Puerto Rico for the simple reason that the entire island had no electricity, no Wi-fi, no internet. Even several weeks later, beyond the hurricane, the island still mostly has no electricity, no internet, no Wi-fi and so on. So, this is a case where people who had Bitcoin are coming to realize that, “Hey, if you can’t access it, it has a value of zero.” This is very important to understand, because cash is king in Puerto Rico right now…” Listen to the full podcast below: