As the banking crisis worsens and UBS Group AG's acquisition of Credit Suisse fails to assuage investors' fears, the price of bitcoin increased on Monday while bank shares and bonds declined. For $3.25 billion, UBS Group paid a 60% discount to acquire the struggling rival as part of the emergency decree and to avoid financial instability.
Bank stocks are declining once more in spite of the agreement and cooperative efforts by central banks like the U.S. Fed, ECB, BoE, and Swiss National Bank to increase US dollar liquidity in international markets.
On March 20, UBS shares dropped more than 7%, while Credit Suisse shares tumbled more than 60%.
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