Crypto
Prominent economist says bitcoin is not a safe haven asset, cannot hedge currency debasement
Arguments have resurfaced that bitcoin is difficult to view as a safe haven like gold or as a store of value. As bitcoin has recently underperformed gold and other precious metals, questions have also been raised about its role as a hedge against currency value declines. Brookings Institution senior fellow Robin Brooks said bitcoin was not a safe haven asset, while Bitwise Alpha Strategies head Jeff Park argued that bitcoin’s response should be assessed alongside interest-rate structure and macro changes.
