Is Bitcoin Becoming a Safe-Haven "Exit" Currency?
Earlier this year, the Greek debt crisis has highlighted the role of bitcoin in keeping an economy afloat despite capital controls. Several startups offered investments and loans using the cryptocurrency, providing an option for those who had been unable to move funds around when stock markets and banks were shut down in the country. Later on, the Chinese stock market crash also spurred investors to seek alternative forms of investments, as other equity indices all over the globe started to tank as well. Is bitcoin starting to emerge as a safe-haven "exit" currency lately? Bitcoin "Exit"....
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There has been a lot of talk about investors looking to Bitcoin as a safe haven for their investment portfolio. Safe haven markets are very small and hard to get into. Bitcoin may not fit that bill as perfectly as some people think it does. Now that the Brexit doom scenario has happened, there is a lot of uncertainty across the markets. Gold is surging,....
Thom Lachenmann and Parke Shall, advisors at Orange Peel Investments, have invested in bitcoin and suggest investors take a small position in the asset for the long term. Writing in Seeking Alpha, they noted that the Brexit referendum is a sign that bitcoin will become a serious safe haven for investors. The advisors noted they were not quick to take an interest in bitcoin when it began. They were skeptical of a currency that was not widely accepted or regulated. But in eight years, they see it is being used as a safe haven for investors looking to evade the British pound’s volatility and....
Despite the increase in the price of bitcoin amid the UK’s recent EU referendum, a new research note from Needham & Company asserts it might be too early to call the digital currency a “safe haven” asset. Global bitcoin prices have risen nearly 6% over the day’s trading to reach a high of $680, a figure up more than $100 from a low of $561.46 on 23rd June. Market observers were quick to assert the increase, which occurred as sentiment in the 'Brexit' vote shifted, was a sign this uncertainty had encouraged new investment in the digital currency markets. However, Needham said its....
A few weeks ago, Devere Group CEO and founder Nigel Green said that he believed the U.S. election would bolster the price of bitcoin. Speaking with the financial broadcast MoneyFM on Monday, Green said he also believes that bitcoin will replace gold as the ultimate financial safe haven within the timespan of a generation. Devere Group CEO Nigel Green is a big believer in crypto assets like bitcoin (BTC) and he’s been more vocal about his forecasts in recent days. Last August, news.Bitcoin.com reported on Green explaining why he thinks the U.S. presidential election would have....
The relative stability of Bitcoin during periods of geopolitical uncertainties has allowed the digital currency to be considered by investors as a safe haven for the preservation of their wealth. Two major events in 2016 that quickly come to mind when considering the geopolitical risks borne by holders of fiat currencies, stocks, commodities and other financial elements are Brexit and the US elections. The fallout from these events saw the nations’ currencies and stocks plummet within very short periods of time. Safety first. One of the most critical factors that investors consider is the....