Cryptocurrency and COVID-19: Bitcoin’s Path to a Safe Haven

Apifiny’s Head of Institutional Sales in Europe, Arthur Wiseberg, contributed an insightful op-ed article to Cointelegraph, stating his perspective on why Bitcoin may provide some of the best solutions to drive a new economy in the post-COVID-19 world.

“Aren’t we all searching for a safe haven? Whether we mean literal shelter — four walls and a roof over our heads — or something more sophisticated, the craving for a dependable defense against random chaos has always been our instinct.

“With the COVID-19 pandemic rearranging society at every level, the allure of a safe haven reigns supreme for our battered psyches. In the realm of financial instruments, the search for the safest of safe havens, also known as a store of value, has taken on a new urgency. Is Bitcoin (BTC) a safe haven? Will cryptocurrency prove to be a store of value above all?”

Key points of Arthur’s op-ed include: 

  • The history of safe havens in economics
  • How cryptocurrencies joined the ranks of safe haven assets
  • The advantages and disadvantages of Bitcoin in this role, helping to answer the question, “Is Bitcoin a safe haven asset?”
  • How the COVID-19 coronavirus pandemic affects the Bitcoin-as-a-store-of-value equation.
  • Why Bitcoin’s status as a safe haven asset might continue to evolve.

Read Arthur’s full Cointelegraph article

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