Altcoin News: Expert: Capital Flows into Safe Assets, Including Bitcoin

August 8, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Bitcoin is truly capable of serving as a safe asset, says Chris Reinertsen, Chief Marketing Officer of Rhythm Technologies.

According to him, recently, investors began to include Bitcoin in their portfolios along with other assets that are characterized by increased stability during times of economic and geopolitical uncertainty.

“There is a flight of capital to safe-haven assets across the board, which now includes Bitcoin,” he said in a conversation with Forbes. “Throughout the last few years, we have been seeing the trend of Bitcoin increasingly becoming fundamentally correlated to more macro moves as increased economic uncertainty in the world increases.”

Brian Belski, a leading investment strategist at BMO Capital Markets Investment Bank, has a different opinion. He argues that calling Bitcoin a safe asset is premature.

“Bitcoin has been extremely volatile, especially over the past two years. Now it is attractive, but I do not make investment decisions based on attraction. I look for a longer-term. And in the long run, it’s too early to call Bitcoin a safe asset,” he said in a conversation with CNN Business.

Earlier, an analyst at Bloomberg drew attention to the increased correlation between Bitcoin and gold in recent months.

Author: Marko Vidrih