The recent bank failures in the U.S. have exposed the fractional reserve banking system’s core limitations and strengthened the case for investing in bitcoin (BTC).

Analysis by crypto services provider Matrixport shows that American buyers are leading the safe haven bid for the cryptocurrency. Bitcoin has rallied by over 40% in ten days, reaching a nine-month high above $28,000, CoinDesk data show.

(By Omkar Godbole)