Bitcoin prices remain unaffected post deadly attack in Vienna

Amidst all the geopolitical tensions in Vienna, Bitcoin price surges as it crosses $14,000. Vienna is supportive about crypto adoption.

By · Nov 5, 2020 . 6min read

Bitcoin prices in Vienna news

Recently, a 20-year-old loaded with an automatic rifle and a fake explosive vest rampaged through a packed Vienna nightlife in district hours ahead of a coronavirus lockdown, leaving four people dead before being shot by police, Austrian authorities said Tuesday. The defendant in Monday night’s attack was a young Austrian-North Macedonian dual citizen with a former terror sentence for trying to join the Islamic State extremist group in Syria.

In the attack, two men and two women died owing to severe injuries. Furthermore, a police officer was shot while trying to suppress the attacker. Moreover, additional 14 people also encountered injuries. Vienna’s hospital service announced seven people were in critical condition when in admittance.

Vienna houses various Bitcoin entities.

Amidst the prevalent chaos in Vienna, Bitcoin’s price remains unaffected. Bitcoin is a hedge against geopolitical risks; however, it has not immediately responded to an escalation in tensions. For the uninitiated, Vienna has housed dedicated Bitcoin entities. It includes the famous “Bitcoin bank” which started in 2017, along with information hub House of Nakamoto. Local startup Bit Trust runs and manages it. The bank enables consumers to buy and sell bitcoins using Bitcoin ATMs. Moreover, it makes purchasing and selling Bitcoin easier and more reliable than other in-person options like Localbitcoins meetings.

Recently, the Vienna Stock Exchange, or Wiener Börse, has become the third official regulated market globally to list a Bitcoin (BTC) product. The exchange-listed 21 Shares AG’s Bitcoin and Ethereum (ETH) exchange-traded products (ETPs), ‘ABTC’, and ‘AETH’, on September 1. The officials stressed that the listing allows experienced and local investors to obtain the advantages that a stock market can provide to crypto traders. It includes regulated, monitored, and transparent trading with real-time data and secure settlement through their regular brokers.

Bitcoin’s price has been rising currently. It quickly crossed $14,000 as protests continue in Nigeria and now the attack in Vienna. Experts state that the surge in Bitcoin price is due to various reasons. One of the primary reasons being the elections in the United States. Bitcoin has only been around for two U.S. presidential elections. However, the price has risen prominently with each succeeding race. In November 2012, 1 BTC was at approximately $12, while in 2016, the price was more than $700. With the coin now approaching $14,309, it signifies a rise of 1,900% in four years or roughly 140,000% in eight years.

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