Investors are flocking to bitcoin as uncertainty looms on global financial markets. The cryptocurrency’s meteoric bounce this year could be a sign that it’s becoming somewhat of a safe haven amid another global financial crisis.
Traditional safe havens like gold have been for many decades preferred safety play, but many other commodities are also gaining momentum. The benchmark Bloomberg Commodity Index has fallen more than 50% from its 2011 peak even after the recent upturn as investors have been avoiding the asset class.
Bitcoin is still in its infancy, and its volatility is high. Therefore, investors are seeking a safe haven for cryptocurrencies too. Commodities have the inverse correlation to the most assets and the best play for hedging the risks. All that can be seamlessly achieve in our platform.