Expert: Capital flows into safe assets, including bitcoin
Bitcoin is indeed capable of performing the function of a safe asset, says Chris Reinertsen, director of marketing at the consulting firm Rhythm Technologies..
According to him, recently, investors have begun to include Bitcoin in their portfolios along with other assets that are characterized by increased stability in times of economic and geopolitical uncertainty..
“There is an outflow of capital into safe assets throughout the market – now this includes bitcoin,” he said in a conversation with Forbes. “Over the past years, we have seen a trend in which bitcoin is increasingly at a fundamental level correlated with macro movements, while economic uncertainty in the world is growing”.
Brian Belsky, a leading strategist at investment bank BMO Capital Markets, has a different opinion. He argues that it is too early to call Bitcoin a safe asset..
“Bitcoin has been extremely volatile, especially over the past two years. He’s attractive now, but I don’t make investment decisions based on attraction. I am looking at a longer term perspective. And in the long term, it is still too early to call bitcoin a safe asset, ”he told CNN Business.
Earlier, Bloomberg analyst drew attention to the increased correlation between bitcoin and gold in recent months.
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