Bitcoin (BTC) briefly surged above the crucial $10K mark in response to President Trump’s threat to deploy US federal troops to combat rioters, as anarchy spreads across the country. 

United States slides into chaos

Triggered by the death of George Floyd at the hands of police in Minneapolis on 25 May, protests have turned to violent riots and looting, and have spread like wildfire across the United States, with major civil unrest in Minneapolis, Los Angeles, New York, Chicago, Houston, Philadelphia, Seattle and many other cities. 

With police in many areas overwhelmed, dozens of state governors have now activated National Guard units to support law enforcement. But, the violence seems to be escalating, driven by a mixture of anger at Floyd’s death, but also a general feeling of social injustice, resentment caused by mass unemployment – which has been exacerbated by the COVID-19 lockdowns – extreme left and extreme right agitators, and of course, President Trump himself. 

Instead of attempting to diffuse the situation, Trump has demanded state governors crush the unrest, and has threatened to invoke the 1807 Insurrection Act, which would allow him to deploy active-duty US military personnel to enforce laws on US soil – something that would almost certainly trigger a massive escalation of violence and disorder. 

With the US economy already reeling from the COVID-19 lockdowns, and unemployment soaring to Great Depression levels, the very future of the United States as a country is now at stake. 

Bitcoin the ultimate safe haven?

Even before the current disorder, many were bracing themselves for an unprecedented global economic crash, as the full impact of the COVID-19 lockdowns became felt. It was against this backdrop that the many dramatic Bitcoin (BTC) bull run predictions we’ve reported on over the past few weeks had been made. 

With the prospect of martial law being enforced across the United States, a complete breakdown of social order and security, or even the disintegration of the United States into a second civil war, the outlook for the traditional economy is now more uncertain than ever. 

If the US does tear itself apart, no traditional market or financial system will be safe from disruption, and most assets will be highly vulnerable to seizure and interference. So, it could well be that Bitcoin (BTC) really does emerge as one of the few safe haven assets, out of the reach of both looters and an increasingly reactionary and authoritarian government.

Maybe Robert Kiyosaki, author of New York Times bestseller Rich Dad Poor Dad, was right when he advised people to buy Bitcoin to save themselves just two weeks ago! 

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