Unchained Crypto Insights

#20 BitCoin is the Digital Gold | Cryptocurrency's Role in the Russia-Ukraine Crisis

April 01, 2022 Osom Finance Episode 20
Unchained Crypto Insights
#20 BitCoin is the Digital Gold | Cryptocurrency's Role in the Russia-Ukraine Crisis
Show Notes

For centuries, gold has been a medium of exchange and treated as the most valuable asset all over the world. It has traditionally served multiple purposes like being used as a gift or traded as a commodity asset. The value of yellow metal has risen consistently for many decades now. Bitcoin, on the other hand, has witnessed a meteoric rise, breaching new records and scaling all-time highs. More investors and crypto enthusiasts are now comparing the two to assess the value they bring.

Historically, gold has been considered a safe-haven asset. During a financial crisis or recession, the yellow metal has been often used as a hedge against stock market volatility. Bitcoin, meanwhile, has been dubbed “digital gold” in the past and it’s a fair comparison with gold as they share similar characteristics.

While Bitcoin may not be a safe-haven asset yet, it has the potential to become one, since it is expected to increase in value and retain it during times of economic turbulence owing to its uncorrelated status. In a study conducted by Fidelity Digital Assets, it was noted that eight in 10 investors surveyed felt digital assets (cryptocurrency, tokens, Bitcoin ETF, etc) have a place in their portfolio. In both the US and Europe, exposure to digital assets has increased year over year. Almost nine ..

Etienne Goffin - Senior economist from Brussels, Belgium. He has a 10+ year career in the financial sector both within the public sector (Central Bank of Malta) where he was an innovation consultant and economic advisor as well as the private sector where he has worked as a banking consultant (Needle Strategy) with expertise in corporate financing, monetary policy, and business innovation. He advised both governments and fintechs globally. Etienne is also Senior Economist and a member of the public affairs team at OSOM. You can find him @EtGOFFIN on Twitter or at goffin.eu

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