The coronavirus has spread to several countries across all major continents in the past few months. Thus far, more then 300,000 cases have been reported while the death toll exceeds 14,000.
Bitcoin Will Battle the Coronavirus
Many non-profit organizations and similar ventures are looking to donate their time, energy and resources towards battling the pandemic and assisting those who have succumbed to it, and for crypto holders, the time to ensure these companies get what they need is now.
Organizations like the Red Cross in Italy – where the number of coronavirus cases exceeds 5,000 – are requesting that members of the public donate bitcoin and crypto to ensure supplies are in place. The Red Cross initially set up a fund on March 12, when things were arguably at their worst in terms of economic strife and was hoping to garner at least $10,000 in bitcoin funds.
At the time of writing, this goal has been met, but the organization is leaving the donation account open granted anyone else can help. The Italian Red Cross is now seeking to get its hands on an additional $26,000 in BTC funds, claiming there are still many more products and items to purchase to keep its operations up.
Among the emergency medical equipment that the Red Cross is looking to obtain is defibrillators, granted cases take serious turns for the worse. Thus far, the organization has managed to garner as much as three quarters of its present target from more than 50 separate donors.
Italy has been hit particularly hard throughout this epidemic considering it has the largest elderly population in Europe, and many medical experts explain that senior citizens are most at risk of viral symptoms. Italy has the highest number of cases throughout Europe and is the second-hardest hit nation after China, where the virus originated.
Other countries, such as the Netherlands, are following in Italy’s footsteps. The Dutch Red Cross is also accepting BTC donations to help combat coronavirus cases within its borders.
It’s ironic that bitcoin – which has suffered greatly at the hands of this virus – is now being utilized to save people from it and combat it. Bitcoin was originally trading for as high as $10,350 last month, though widespread panic and fear caused by the pandemic has resulted in mass selloffs and caused the world’s number one cryptocurrency to drop by more than half at one point.
Change Is in the Air
It has since recovered somewhat and is now trading for around $6,400 at press time, though there’s still plenty of room for improvement.
Some crypto holders have sought to take advantage of the circumstances the coronavirus presents. Several developers, for example, have introduced the world to Coronacoin, a new digital asset that rises in price given the number of new deaths and cases that arise.