Peaks, troughs and hacking: Why would anyone deposit in bitcoin?

In June, Chris Burniske, a blockchain researcher and products lead during investment manager ARK Invest, told CNBC he deliberate bitcoin to be a safe-haven asset. Despite a sensitivity and a cybertheft, he still stands by this view.

“The approach in that it’s a safe-haven item is that it’s so differentiated from a other assets. It doesn’t pierce in tandem with them,” he told CNBC in a phone talk on Aug 16th.

“Bitcoin provides a good choice for a tiny commission of someone’s portfolio to park their income in a place that’s totally uncorrelated to a rest of a collateral market.”

Part of a problem, according to Burniske, is that a Bitfinex hack, in that scarcely 120,000 bitcoins value around $70 million were stolen following a confidence breach, has tarred bitcoin’s image.

“Bitcoin is usually a safe-haven item so distant as it is stored and cumulative properly. A lot of seductiveness has come to a space, and not all certain interest, given a Bitfinex penetrate that is really unfortunate,” he said.

“Bitfinex’s confidence protocols were not sufficient to keep a hacker out, though nonetheless bitcoin and bitcoin-blockchain sojourn a secure



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