Why Bitcoin falls short as a safe haven in geopolitical turmoil
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Why Bitcoin falls short as a safe haven in geopolitical turmoil
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Pretty much since its inception, the cryptocurrency bitcoin has been compared to gold: There’s only so much of it, its value isn't tied to any fiat currency. But gold is a traditional safe haven asset, while bitcoin isn't, necessarily. Gold surged in value when news first spread that the U.S. had attacked Iran. Bitcoin didn’t see the same immediate flight to safety. Marketplace’s Stephanie Hughes spoke with Gil Luria, head of tech research at D.A. Davidson, about why investors still don’t see Bitcoin as a safe haven for their assets.
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