Time to burst a bubble. Bitcoin isn’t a safe haven asset.
And that’s a good thing!
Bitcoin is a revolution. A change in the way we exchange value. A shift in the established system. A radically alternative monetary policy.
It’s risky. It’s volatile. It’s exciting. It’s the best performing asset class of the year.
If you think bitcoin is just a safe haven, you’re not just wrong, you’re not thinking big enough.
Bitcoin: zero correlation to traditional markets
Just look at the chart below which tracks bitcoin’s performance in August (light blue) against the US stock market (dark blue) and an established safe haven, gold (orange).