Why Bitcoin is not a safe haven

Why Bitcoin is not a safe haven

Published on Feb. 24, 2021 at 8:00AM Updated on Feb. 24, 2021 at 8:19AM

Bitcoin closer to lead than gold? The recent fall of the cryptomoney, after having reached new heights last week, may well dampen the hopes of those who saw it as a safe haven, like the precious metal.

This hypothesis had nevertheless gained in popularity in recent weeks, particularly after Tesla’s announcement of the purchase of $1.5 billion worth of bitcoin, reflecting growing corporate interest. BlackRock, Paypal, MasterCard and Bank of New York Mellon have expressed interest, while JPMorgan has indicated that it is considering the possibility. At the same time, many individuals, who have taken over trading applications such as Robinhood, have also rushed to the queen of the cryptoskills.

Why Bitcoin is not a safe haven
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