Bloomberg Tax
March 18, 2023, 1:02 PM

Bitcoin Believers Revel in Told-You-So Moment as Banks Crumble

Michael P. Regan
Michael P. Regan
Bloomberg News
Vildana Hajric
Vildana Hajric
Bloomberg News

As members of the media lingered near the entrance of the headquarters of Silicon Valley Bank this week, a Bitcoin true believer seized on an opportunity.

He drove a Budget moving van directly in front of the building’s entrance, so all could see the message plastered on the side: “BE YOUR OWN BANK,” it read, between a doctored image of Federal Reserve Chair Jerome Powell holding a “Buy Bitcoin” sign and the orange logo for the original cryptocurrency. A video of the made-for-social-media stunt, set to Pink Floyd’s “Money” as soundtrack, was tweeted by an account with the handle @cryptograffiti, ...