Vitalik Buterin, co-founder of Ethereum recently tweeted about the ongoing crisis due to coronavirus. In a Twitter thread on June 02, he has compared the current financial crisis with the earlier financial crisis of 2008. According to him, the current crisis is due to a virus hence it is much different from the crisis through which Bitcoin was created. Buterin believes that the nature of this crisis is quite different so the crypto community will have to deal with it accordingly.
<blockquote class="twitter-tweet">
On 2008 vs 2020, and what it means for crypto(currency).
I've said this already at some of the recent newfangled e-conferences, but want to reshare here too.

Thread:

— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1267818279613022215?ref_src=twsrc%5Etfw">June 2, 2020</a></blockquote>
<h2>Buterin says 2020 is a virus crisis</h2>
As Buterin has said that 2020 is not like the earlier financial crisis or ‘Great Depression’, he labelled this as a virus crisis. He accepted the fact that Bitcoin was created in some severe circumstances of inflation during that time. However, the situation is quite different as inflation is not only an aspect and in fact, this time inflation is going down.

Buterin has said that cryptocurrency cannot be related to any kind of traditional assets. He has also indicated this with the help of a chart where he showed that in March 2020, there has been a downtrend in the S&amp;P 500. During that market crash, there was a huge decline in the price of Bitcoin and all other digital currencies.
<h2>Crypto community should get used to the new reality</h2>
Buterin has also urged the crypto community that they should now move ahead from the mindset of Binance CEO, Changpeng Zhao. He has also claimed that people should now leave the old narrative of cryptocurrency and start accepting the new reality which is emerging during this crisis. This year could be considered as one in which new reforms have been made leaving the old one behind in order to adapt the situation. Through all of his tweets, it is clear that he wants the whole crypto community to deal with the crisis in a completely new way and adjust with reality.

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Vitalik Buterin Believes 2020 Crisis Different From Earlier Financial Crisis

italik Buterin, co-founder of Ethereum recently tweeted about the ongoing crisis due to coronavirus and drew comparison with financial crisis of 2008.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Vitalik Buterin Believes 2020 Crisis Different From Earlier Financial Crisis

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