The saying goes, "When you're a hammer, every problem looks like a nail." Speaking of, Ark Invest founder Cathie Wood has a solution to the U.S. banking system's latest meltdown.
More crypto.
DON'T MISS: Cathie Wood Weighs in On Silicon Valley Bank Collapse
"While the U.S. banking system was seizing up in response to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks didn't skip a beat," Wood tweeted.
Wood has a point. While cryptocurrencies have mostly reacted in tandem with equity markets when big news drops in recent months, there are times when the digital assets stand up better to bad news than their more-regulated counterparts on the stock exchanges.
Wood also sees government regulators as being asleep at the wheel as "deposits in the banking system were falling on a year-over-year basis for the first time since the 1920s!"
The reference to the 1920s seems to have triggered Twitter's head commenter Elon Musk, who took the time to comment on Wood's thread.
Musk did not expound on his comment, so we may never know what similarities the current year has to the U.S. just before the financial collapse and the Great Depression in 1929, but according to Musk, they are numerous.
The stock market bears and doomsayers gathered underneath Musk's tweet to congregate and share memes.
