63 US banks on the brink of insolvency: Why Bitcoin’s next target is $100K
Bitcoin price may be closer to the big milestone $100,000 mark than many realize, as a looming banking crisis could see BTC become the new “safe haven asset.”
Bitcoin (BTC) could be on track to the psychological $100,000 mark as the “digital gold” narrative gains more prominence amind another banking crisis looming in the United States.
At least 63 U.S. banks were on the brink of insolvency in the first quarter of 2024, up from 52 banks on the “Problem Bank List” during the third quarter of 2023, according to the Federal Deposit Insurance Corporation’s (FDIC) quarterly report published on May 29.
Moreover, the banks are collectively sitting on $517 billion worth of unrealized losses, up $39 billion from the previous quarter. This marks the ninth consecutive month of “unusually high unrealized losses,” according to FDIC’s report, whi wrote:
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Author: Zoltan Vardai
