Bitcoin is a “safe haven asset” - page 7.

hatshepsut93

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

For me, this is the first time I've seen a traditional company admit and call bitcoin a safe haven and consider it superior to gold. What do you think about this and should we stop calling bitcoin a risky investment?
https://blockworks.co/news/alliancebernstein-gold-bitcoin-returns

This is far from the first time, influential people have praised Bitcoin in the past, often when they were somehow related to dealing with it, like if they company started offering Bitcoin operations or something.

I personally think that Bitcoin is a store of value but not a safe haven. You can't really call it safe if it can drop by 10-20% in price within a few hours. A safe haven is something that nearly guarantees preservation of value, that the value at least won't go down.

panganib999

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They still recognize the risks and challenges that bitcoin could pose to the average trader, but the thing is since bitcoin’s the most consistent out of evety crypto out there when it comes to price action, it’s the most attratcive when it comes to investing. I reckon this is what he meant since he’s also talking about how bitcoin is more attractive than gold.

In any case I agree with both. Bitcoin is good and all, but you can’t just tell people to invest in it, especially those who are not familiar with the way that the crypto world works.

Sanitough

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

Previously, not only did the world consider bitcoin a highly volatile and high-risk asset, but even those of us who invested in bitcoin considered it a high-risk asset. But I think we should gradually change that concept as well as change the way we call it, bitcoin is no longer a risky asset. Recently AllianceBernstein, an asset manager with $699 billion, called bitcoin a safe haven and even more attractive than gold.

For me, this is the first time I've seen a traditional company admit and call bitcoin a safe haven and consider it superior to gold. What do you think about this and should we stop calling bitcoin a risky investment?
https://blockworks.co/news/alliancebernstein-gold-bitcoin-returns

Well, this news is really making its way to find more potential bitcoin investors in the future. However, just because they see bitcoin as a safe haven asset then it's now actually safe to invest. Of course no. The risks are still there and its high volatility will add more risk on it. If you are just here to invest just because of quick profits, then forget about it. Bitcoin can never provide you on your wish. But if you have the genuine intention to invest because you believe in the future of bitcoin, then you are at the right track and just prove yourself that you are not like any other investors that are just here for quick profits alone.

cheezcarls

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No disrespect but I do not think we could say that BTC is a "safe haven asset" due to its volatility in nature. Maybe gold would be a real safe haven for me, but not that profitable like Bitcoin.

Technically Bitcoin is likely the best choice to do DCA (dollar-cost averaging), the risks are always there as you cannot predict the market very well. There's no way that you can outsmart the crypto market because it is ultimately decided by the buyers and sellers worldwide that you cannot control.

We just have to acknowledge the risks even if it's Bitcoin because either it can make or break depending on the news, trends and unexpected happenings along the way. We always have to be prepared no matter where the market goes.

Even though others could say that Bitcoin is more attractive than gold, it is definitely not an asset that is considered to be "safe haven". We must also learn how to diversify our portfolio too rather than just going all-in with Bitcoin without knowing where it's heading next in the coming days, weeks, months, years, etc.

Dr.Bitcoin_Strange

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Yea, I concur with your topic; earlier, I had thought of it and had also made such a statement in a few threads. Speaking for myself, I agree and have experienced that Bitcoin is really a safe heaven. Having invested in Bitcoin, and with the current price surge, I have been able to archive some profits, while some money that I held in Fiat has depreciated in value, and I can't even buy as many goods as I used to due to the high inflation and the currency's depreciation. Due to the volatile nature of Bitcoin, some people don't consider putting in their money, but it's preferably better to hold Bitcoin for a long time than to hold Fiat for a long time, unless it's a Fiat that you just want to use ASAP.

Viscore

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Quote from: Charles-Tim on October 27, 2023, 10:58:23 AM

Bitcoin is a volatile asset, but in short term. If you want to hold bitcoin for a long time and not selling, it is a store of value. Bitcoin price has proven that up to now.

Bitcoin is superior to gold because its total supply is limited and not more than 21 million in total. But gold is still superior because it is the asset with the largest marketcap in the world.

Bitcoin is superior and much better to gold, but it is way more risky that I don't find it a safe haven asset. In fact, I find gold as a safe haven asset than bitcoin. However, not because it is not safe haven, then it won't be a reliable investment anymore. Bitcoin investment has its own risk and high volatility but we all know that it's more profitable than gold or any other investment.

Y3shot

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I don't think Bitcoin is risky the way people thinks if only people can be able to hodl bitcoin, when the mind has already been made up to hodl their is no risk in bitcoin because the investment will surely end to gain good profit. Bitcoin is only risky to those who just want to make money from bitcoin so fast which people with such plan always end up to sell in panic when the market is not in favour like the way they want it. Bitcoin is a safe haven asset for investor's who truly understands the market and can be able to hodl till the bull market, but not a safe haven asset to those that want to get rich quick.

Z-tight

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

For me, this is the first time I've seen a traditional company admit and call bitcoin a safe haven and consider it superior to gold. What do you think about this and should we stop calling bitcoin a risky investment?

Do you think BTC is a safe haven asset only because this company thinks so, Elon Musk and his company Tesla think BTC mining is destructive to the enviroment, but i don't believe them because i can do my own research, so why should i believe BTC is a safe haven asset because one company thinks it is.

BTC is volatile and it does not keep its value for a long time, like gold which is a safe haven asset, if anything, BTC is a 'long term safe haven asset', because in the long term BTC performs better than most assets, but surely BTC is still risky and can lose its value at anytime. BTC is safe in the sense that it is no longer an experiment nor a bubble that can burst, it is now a strong asset that is very useful and here to stay and in the future would be very less volatile.

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When we are on bullish trend the news says good things about bitcoin but if we are on bearish they will talk upside down so its just an article to cover what is trending today so it shouldn't be given much importance if you are already a bitcoin investor and you may aware that bitcoin produced great returns but we can never say that its highly stable so every asset has their pros and cons while bitcoin too.

If you are going to react to every news that you see about crypto then you will make wrong decisions because there are media influenced by anti bitcoiners aka the government who keep saying its bad while there are also whales trying to pump the price to dump it hard at some point.

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Quote from: bitzizzix on October 27, 2023, 12:11:12 PM

“Trust” is a complicated word, and its meaning is different for everyone. I can only answer this question when I start to believe and understand Bitcoin and if talking in the long term I consider that Bitcoin is a safe asset and can store value and that has been proven.
And if I had to choose gold or Bitcoin, I would choose Bitcoin. Because it has been predicted and confirmed that the long-term increase in Bitcoin prices will be much higher than gold and is very safe and comfortable, I think so.

I was on btc since 2012 I became a believer in 2017.

I would have done much better if I believed in btc in 2013.

I do hedge with Silver I have about 14k usd in silver.

Hyphen(-)

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

For me, this is the first time I've seen a traditional company admit and call bitcoin a safe haven and consider it superior to gold. What do you think about this and should we stop calling bitcoin a risky investment?
https://blockworks.co/news/alliancebernstein-gold-bitcoin-returns

I think only people who do not know the concept of bitcoin, its transparency, and it decentralized nature will consider it a highly risky investment.

Most times, due to ignorance, people generalized cryptocurrency as a risky investment because Altcoins have been leading people to lose their money due to centralization, but I have never heard someone complain that they lose money due to investing in Bitcoin if they have patience to have waited for long-term, only altcoin investors are complaining and generalizing cryptocurrency as risky investment.

Baofeng

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As per the definition of:

Quote

What Is a Safe Haven?
A safe haven is a type of investment that is expected to retain or increase in value during times of market turbulence. Investors seek out safe havens in order to limit their exposure to losses in the event of market downturns.

https://www.investopedia.com/terms/s/safe-haven.asp

It just so happen though that during the coronavirus scare, we are in the block halving period and so it seems that bitcoin is a safe haven as the price continue to soar despite what is going on in the background as far as the world goes, i.e. lockdown.

However, we should also understand that it is volatile, so as per definition it supposedly or expected to retain it's value or increase. But last year, we have seen the lowest low at $15,500 so it might not fit the definition per se, just saying.

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

Previously, not only did the world consider bitcoin a highly volatile and high-risk asset, but even those of us who invested in bitcoin considered it a high-risk asset.

It is true that Bitcoin is a high risk investment due to its high volatility. The price easily changes because of the current issues or news. It can drop or increase significantly when there is a big issue/news related to Bitcoin itself or the crypto as a whole. It is the real nature of Bitcoin and people view it as a high risk investment is in the right way. What's wrong with this?

Quote from: Ayers on October 27, 2023, 10:38:27 AM

I think we should gradually change that concept as well as change the way we call it, bitcoin is no longer a risky asset.

How can Bitcoin no longer be a risky asset? is the high volatility in Bitcoin gone? Huh

Bitcoin nature has no change, it remains a high risk asset with a high volatility. If we change the concept, it means we deny the fact.

Quote from: Ayers on October 27, 2023, 10:38:27 AM

Recently AllianceBernstein, an asset manager with $699 billion, called bitcoin a safe haven and even more attractive than gold.

AllianceBernstein is free to say anything about Bitcoin. It is okay if he thinks Bitcoin is a safe heaven asset. But it is his own perception only, it doesn't reflects the reality of Bitcoin. He may consider it is a safe heaven asset because he knows well Bitcoin price cycle. And he doesn't invest for a long time, he may target to take profits every 4 years. But it is actually not really safe, we don't know that Bitcoin will have the same scheme in each 4 years cycle. No guarantee the same cycle to return in the future!!

Jating

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

Previously, not only did the world consider bitcoin a highly volatile and high-risk asset, but even those of us who invested in bitcoin considered it a high-risk asset. But I think we should gradually change that concept as well as change the way we call it, bitcoin is no longer a risky asset. Recently AllianceBernstein, an asset manager with $699 billion, called bitcoin a safe haven and even more attractive than gold.

For me, this is the first time I've seen a traditional company admit and call bitcoin a safe haven and consider it superior to gold. What do you think about this and should we stop calling bitcoin a risky investment?
https://blockworks.co/news/alliancebernstein-gold-bitcoin-returns

It might be true, but still though, bitcoin is very much a volatile asset and it's hard to consider it as a safe haven. Maybe it has become one of the alternatives like like what we witnessed in the pandemic. But for me it doesn't mean it the best asset though if you look at it because the price moves in manner that we really don't anticipate. And old and traditional fart doesn't like that and they will still stick to Gold.

So it's really up to the individual on how they define safe haven. Maybe AllianceBernstein has it's own narrative from behind why they are saying this. Maybe they have a lot of clients who are into bitcoin and obviously they want to attract more with this kind of statements and then reassuring their already clientele.

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Quote from: MinoRaiola on October 27, 2023, 02:30:43 PM

Quote from: Ayers on October 27, 2023, 10:38:27 AM

What do you think about this and should we stop calling bitcoin a risky investment?

Bitcoin is secure, cannot be fake like cash, is recorded in three blockchains for ever and does not lose value, 1 Bitcoin = 1 Bitcoin. The value in dollars or euros is of course different and always will be. In terms of cash, which is usually just paper, I would prefer Bitcoin because it is safer for me.

Yes that's right. Bitcoin is safe for safe haven because bitcoin cannot be counterfeited, this is very different from fiat or gold which can be counterfeited. So it's not surprising that now people are turning to Bitcoin instead of gold for safe haven, besides because it seems we are heading towards a global recession.

In fact the government and banks have already made it clear that they will devalue the currency to fight the coming recession. Bitcoin is one obvious place to put money. Gold will also perform well. One will do better than the other, those who remain in cash will lose out.

mvdheuvel1983

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

For me, this is the first time I've seen a traditional company admit and call bitcoin a safe haven and consider it superior to gold. What do you think about this and should we stop calling bitcoin a risky investment?

I find this quite amusing. Imagine we had waited for traditional companies like you call it to admit and call bitcoin a safe heaven. We wouldn't be were we are find now. The thing I like about the set of strong believers in bitcoin is that we take the bull by the horn. We need no bullshit validation for any asset manager, broker, government official or whoever. All I see them coming out right now to say nice stuff about bitcoin because they want to ride on it success. Its years of resilience and grit against the forces that wished to see it die. They should all keep their lofty opinions about bitcoin to themselves.

MinoRaiola

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Quote from: Ayers on October 27, 2023, 10:38:27 AM

What do you think about this and should we stop calling bitcoin a risky investment?

Bitcoin is secure, cannot be fake like cash, is recorded in three blockchains for ever and does not lose value, 1 Bitcoin = 1 Bitcoin. The value in dollars or euros is of course different and always will be. In terms of cash, which is usually just paper, I would prefer Bitcoin because it is safer for me.

bhadz

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In terms of investing in the crypto market, Bitcoin is no doubt a safe haven compared to any other cryptocurrencies. But if we're going to compare that with any other assets, we can't remove the fact that Bitcoin has always been volatile and that's not going to change. Anyway, IMO, my understanding tells me that it actually is and those traditional assets that we have can also be volatile as they can be just as Bitcoin. Because they're also moving just like how it moves together with the trend in the global economy.

nakamura12

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I don't think Bitcoin is a safe haven asset if you ask me and it is up to you on how you keep your Bitcoin safe plus it is also volatile. I am sure you have heard or read somewhere where a person lost some BTC because of some hackers or from scammers. Well, if you compare BTC to other crypto about their security well my answer is BTC but it isn't fully secured asset. If I choose then I would choose BTC since it is more secured compared to other crypto.

Ultegra134

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Hmm, although I understand your point, I don't think it's quite true. Bitcoin is still a volatile asset and an extremely unpredictable one as well. For instance, Blackrock could ultimately reject Bitcoin's ETF listing and send it into a downward spiral. However, I understand that your opinion stems from the idea that, so far, it keeps recovering and cannot be a simple coincidence. That's true, but there isn't enough statistical data to make assumptions for the distant future.

I deem Bitcoin a relatively stable and safe investment, something similar to the S&P 500 index, which has been showing an increasing trend over the last two decades. Does that make it a safe haven? Probably not, and it's exactly how I feel about Bitcoin too. Just because both the S&P 500 index and Bitcoin have been showing an increase in value over the course of the years, it doesn't necessarily mean that this pattern will always follow.

Topic: Bitcoin is a “safe haven asset” - page 7. (Read 1180 times)