Why Isn’t Bitcoin Trading Like Digital Gold?

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With the world's heightened uncertainty, many investors expected bitcoin to behave like a safe-haven asset, similar to precious metals.

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After all, bitcoin has gained a reputation as digital gold, in which case it should be a hedge for investors during these tumultuous times.

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After all, bitcoin has gained a reputation as digital gold, in which case it should be a hedge for investors during these tumultuous times.

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Yet bitcoin has given investors little protection from the fear that has gripped the economy amid the war in Ukraine, sky-high inflation, and the threat of rising interest rates. So, what gives?

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On the one hand, Apple Co-Founder Steve Wozniak has described bitcoin as “pure gold mathematics” and even a “mathematical miracle.”

On the other hand, Wall Street veteran Lloyd Blankfein suggested that perhaps bitcoin isn't all it's cracked up to be.

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