Both Silicon Valley Bank, First Republic Bank were financing Silicon Valley technology projects mainly.
Large part of their business was Bitcoin, cryptocurrencies related.
Even Silicon Valley Bank. First Republic Bank encountering great difficulties, Bitcoin's price is still rising, which is remarkable, really.
Bitcoin exhibits astounding resilience.
Generally, Silicon Valley technology projects are difficult to be financed by a bank, due to low or lack of revenue or profit. Wall Street banks, however, are also heavily exposed to large technology companies, which have smaller technology startups as subcontractors.
Bitcoin's agility is remarkable also in this sense.
Disclaimer: The blog post above is not a recommendation to buy or sell securities, derivatives or cryptocurrencies.
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