Bitcoin ($BTC) continues to compete with gold, which has long proven to be a safe-haven asset.
However, while gold has proven to be a safe asset, the same is not yet true for Bitcoin. Some analysts argue that $BTC While it’s a safe haven, some say they still need more time.
At this point, on-chain analyst Willy Wu pointed out that most Bitcoin holders are thinking: $BTC Although they serve as safe assets, the reality is more complex.
Willy Woo said $BTC It will take at least 10 years to be considered a safe-haven asset.
Wu said it could take at least 10 years for Bitcoin to be accepted as a safe-haven asset.
According to Wu, Bitcoin has safe-haven properties. “It can cross borders, be restored with storage devices in the event of conflict, and is theoretically independent of the traditional financial system and could be useful if that system collapses.”
However, during periods of uncertainty or war, Bitcoin behaves more like a risky asset and becomes highly sensitive to market sentiment.
In a recent blog post, Wu pointed out that Bitcoin remains highly sensitive to market fluctuations during periods of macroeconomic uncertainty and war. He said this is largely due to the fact that institutions and other large capital investors still do not consider it a well-proven asset. Wu said large funds have not fully embraced Bitcoin’s safe-haven properties, viewing it as too new and lacking long-term validation.
Woo added that this was due to the situation. $BTC Prices behave similarly to the Nasdaq.
Wu believes it may take more than a decade for Bitcoin to be widely accepted by the market as a safe-haven asset. If it reaches this milestone, its market capitalization could rival that of gold.
*This is not investment advice.
