The usual safe-haven trades are the only silver linings in an ugly Friday trading session. The iShares Barclays 20+ Yr Treas.Bond (ETF) (NASDAQ:TLT) is up 2.7 percent and the SPDR Gold Trust (ETF) (NYSE:GLD) is up 4.6 percent.

However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. Its strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings.

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I dont think it is a traditional safe-haven trade but a strategy to avoid official manipulation, Swissquote Bank analyst Peter Rosenstreich explained.

Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin.

Related Link: Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank

Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency.

While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered digital gold, bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty.

Disclosure: The author holds no position in the stocks mentioned.

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