By CCN Markets: Global financial crises are on the rise, thrusting bitcoin into the spotlight. Legendary investor Warren Buffett called bitcoin “rat poison squared,” but it turned out to be nectar, nevertheless. The world’s largest cryptocurrency’s valuation jumped approximately 47 percent between May 5 and May 31 to close the month nearly $8,500. The same period witnessed the U.S. market’s benchmark indicator, the S&P 500, drop by approximately 6 percent. Analysts called the bitcoin price surge a net effect of the U.S.-China trade war and Chinese yuan devaluation. They now believe that the cryptocurrency became either a hedge or a
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