There has been a lot of talk about investors looking to Bitcoin as a safe haven for their investment portfolio. Safe haven markets are very small and hard to get into. Bitcoin may not fit that bill as perfectly as some people think it does.
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Now that the Brexit doom scenario has happened, there is a lot of uncertainty across the markets. Gold is surging, Bitcoin is holding stable, and capital markets are seeing significant losses. Notably, the Pound Sterling and Yuan are losing value right now. But unlike what many people expected, investors are not exactly fleeing to Bitcoin in droves.
Understanding The Safe Haven Term
That being said, Bitcoin is often referred to as a “safe haven,” which by definition is “an investment expected to retain its value or even increase in value in times of market turbulence.” Bitcoin seems to fit this bill, albeit the chances of increasing or decreasing in value are theoretically equal.
Gold is an obvious safe haven asset, and it is widely recognized as a store of value. Other precious metals may fall into the same category,