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2020 has been a defining year for Bitcoin, with the world reeling from a global pandemic, the necessity of hard money is more apparent than ever.
With the worst of the bear market behind us, 2020 looked to be a promising year for Bitcoin. However, in March with the coronavirus outbreak, markets went into freefall and Bitcoin was no exception, dropping over 40% in a day and hitting yearly lows of ~$4,000.
By the time of the halving on May 11th Bitcoin had recovered from this drop. With the increased scarcity and massive amounts of money printing, debasing fiat currencies and the increased threat of high inflation, institutional investors began moving into Bitcoin. With MicroStrategy, Square and MassMutual, amongst others, transferring part of their treasuries into Bitcoin.
While institutional interest in Bitcoin dominated the headlines in 2020, Bitcoin continues to be a powerful tool for freedom, for those who live under oppressive regimes. Notably in Belarus, where government workers are striking in protest against the rigged elections. The Human Rights Foundation have supported them by setting up the Belarus Solidarity Fund. They are using Bitcoin as a censorship-resistant way of getting money to those striking to supplement their lost wages.
To round off 2020, I talk to Matt Odell, co-host of Tales From the Crypt. We discuss everything in Bitcoin in 2020, from price action and institutional investment to government reaction to coronavirus and privacy.