Over the past few months, Bitcoin (BTC) has been lauded by economists, investors, and commentators as an up-and-coming "safe haven" asset. During a period of global turmoil, the cryptocurrency has managed to outpace effectively every other asset class in the books.
In fact, Grayscale recently reported that since the U.S. kicked off its latest trade war with its economic rival, China, Bitcoin has gained 105%. While this number means nothing on its own, the average asset class that Grayscale surveyed - stocks, bonds, and foreign currencies included - actually lost 0.5% in the same time frame.
But, according to a Bitcoin commentator, the narrative that the cryptocurrency is a safe haven is flawed. He argued that Bitcoiners "clamoring for a recession or for stocks to crash seem to have conveniently forgotten September to December 2018."
