Bitcoin: A Risky Asset, Not a Safe Haven

IconCryptoNewsTerminal Staff02 Aug, 2024

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Bitcoin: A Risky Asset, Not a Safe Haven

Dan Dolev, senior analyst at global brokerage firm Mizuho Securities, believes that Bitcoin is not a safe asset, despite expectations. He stated on Bloomberg that if the US unemployment rate rises, people may be forced to sell their Bitcoin holdings. Matthew Graham, co-founder of blockchain-focused investment firm Ryze Labs, adds that the possibility of the Fed cutting interest rates, Trump winning the November election, or a restructuring of cryptocurrency policy under the Harris administration could have short-term impacts on Bitcoin prices. These factors highlight the volatile nature of Bitcoin and its susceptibility to external events and policy changes.