The Worst Crisis in a Century Is Setting the Stage for Bitcoin

In the weeks since then, Bitcoin has recovered faster than any other asset.

If the global macro situation worsens, we may see some more downward price pressure on Bitcoin in the short-term.

Here's why the worst crisis in a century is setting the stage for Bitcoin.

Infamous macro investor Paul Tudor Jones recently added Bitcoin to his public portfolio, calling it the "Fastest horse." He also explained that he was buying it as a hedge for the inflation he sees coming from all the money printing.

Risk managers understand the importance of diversifying an investment portfolio particularly in times like these, and many investors will likely follow Tudor Jones' lead.In contrast, Bitcoin becomes more scarceAlmost as if to showcase arguably Bitcoin's key quality, the Bitcoin halving reduced the block reward for miners, meaning that unlike fiat, its supply will go down.

It's such a stark contrast that even skeptics have to stop and think - or at least study the value of owning some Bitcoin.

Despite the Black Thursday event and all the volatility, it has shown impressive recovery and is still up some 35% YTD.In fact, after this third halving and the recent rush on gold, Bitcoin as "Digital gold" holds more weight now than ever.

The $10-billion crypto hedge fund Renaissance Technologies has approved offering cash-settled BTC contracts from the CME Group, and Grayscale Investment Trust has recently seen a record inflow of institutional funds designated at buying Bitcoin.

As Bitcoin continues to prove its worth and emerges as a must-have in investors' portfolios, more eyes will turn to it.

COVID-19 - for all the hardship and fatalities it has caused - may just prove to be the biggest catalyst for Bitcoin yet.