The S&P 500 is now down 21.2% YTD and the macro environment has started to put public crypto prices to the test. Bitcoin in particular has been referenced as a safe haven asset historically but hasn't acted like it recently as it has traded down with the broader markets. Does this short-term trend mean the safe haven asset narrative is a sham? I don't think so.While cryptocurrencies certainly aren't immune to short-term liquidity crunches, we believe that a lot of the macro issues facing public equity and bond markets will end up being major positives for cryptocurrencies in the long-run. Negative interest rate policy, distrust in governments, and the rise in internet-based businesses are all macro shifts that cryptocurrencies benefit from. From our perspective, it's never been a better time to be a cryptocurrency entrepreneur.
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1confirmation Newsletter - Issue #79
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The S&P 500 is now down 21.2% YTD and the macro environment has started to put public crypto prices to the test. Bitcoin in particular has been referenced as a safe haven asset historically but hasn't acted like it recently as it has traded down with the broader markets. Does this short-term trend mean the safe haven asset narrative is a sham? I don't think so.While cryptocurrencies certainly aren't immune to short-term liquidity crunches, we believe that a lot of the macro issues facing public equity and bond markets will end up being major positives for cryptocurrencies in the long-run. Negative interest rate policy, distrust in governments, and the rise in internet-based businesses are all macro shifts that cryptocurrencies benefit from. From our perspective, it's never been a better time to be a cryptocurrency entrepreneur.