Pfizer Results Buoy Bitcoin, But Nothing Has Changed

By Christopher Brookins

Earlier today, Pfizer PFE reported that its early stage Covid-19 vaccine trials have produced optimistic results. The news sent equities and bitcoin higher, while dropping gold beneath the psychological $1,800 level.

Despite the Pfizer-led reprieve for bitcoin, its price movements since the “halving” have largely been disappointing, especially amidst the Fed’s extraordinary actions, which have benefited store of value assets like gold, historically.

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