Co-Founder Bitcoin Foundation Remarks on Coronavirus, May Prove Positive for Stock Market


Gavin Andresen has been an individual and legend within the Bitcoin (BTC) ecosystem after the Bitcoin products were founded in 2010.

Andresen became proclaimed by Satoshi Nakamoto as Bitcoin’s Lead Developer, and in 2012 launched the Bitcoin Foundation.

Publicly Traded Firms Undue Dominance
The COVID-19 global epidemic had severely impacted small firms, triggering the worst recession. Most of them, the markets would probably swallow. Mr. Andresen envisages major companies gaining from this global epidemic, through publicly traded stocks.

The market growth level would sink. As a direct consequence, some of its small-market rivals may be lost to the corporate giants. The stocks of companies may grow with the decreased competition, as the outcome of the current downturn may prove ‘positive’ for others.

Many analysts trailing his Twitter page noted this analogy is not right since small firms have had an upper hand over publicly traded companies to some extent.

High Growth Despite Market Carnage
This is remarkable as high-demand stocks were mostly recording vertical increases all through the Q1 2020 COVID-19 global epidemic. While the curfew was put on Wuhan exclusively, Tesla (TSLA) amazed investors by multiple twin-digit increases daily. Amazon (AMZN) also lately nearly reached its fresh all-time high (ATH) of $2,128, rising further over 30% after its sell-off in mid-March.

Few stocks, nevertheless, may not look good efficiently. Because of the carnage from the airline industry Berkshire Hathaway (BRK.A) lost $50B in Q1 2020.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.