But the question is, can bitcoin be use to hedge against another economic crisis like war? First, countries traditionally print money wildly during wars to "finance" the war, making the paper currency less valuable. And second, brutally, if a country no longer exists one day, what are pieces of paper backed by its government worth? Not much. I'm seeing this applicable to bitcoin as well. Bitcoin could become worthless during this kind of scenario, but bitcoin can be very useful after a massive crisis. As for gold, it has been used as hedge since time immemorial, and I think it will remain the same. But the problem I'm seeing is how can we ordinary people acquire gold? Can you get gold bullion instead? So for me, the best strategy is to have both. It only depends on how the individual can get gold or bitcoin as hedge for war or global crisis.
The recent spat of words involving the rogue regime of North Korea and the United States proved that in case of war Bitcoin can surge in value and can be considered as the safe haven just like gold. And because it is not physical (like gold) some people would prefer to park their assets into this cryptocurrency. In case of a war, the best way to store Bitcoin is always the physical purse like Nano Ledger or similar devices.
One of the best reasons why Bitcoin would be the number choice instead of gold in case of a major global economic disruption is the fact that it would be so easy to store and hide them unlike the real gold which can be a magnet for criminals to attack the gold holder. Gold can be heavy and transporting them can be a big problem. This is not true with Bitcoin.
However, we still have to see a real situation here...and I am not hoping that one day this idea can be tested on the field. We don't want a major war again after WW1 and WW2...
