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Eric Siu says Bitcoin no longer hedges against economic turmoil because institutions now own it and trade it like stocks. When markets rise, Bitcoin rises. When they fall, it falls with them. It used to move independently.
Eric Siu says Bitcoin no longer hedges against economic turmoil because institutions now own it and trade it like stocks. When markets rise, Bitcoin rises. When they fall, it falls with them. It used to move independently.
The reason I didn't choose Bitcoin, if you look at the general market, when the you know because everyone's like oh if the economy or the world crashes you have Bitcoin. I don't believe it anymore because when you look at the stock market and the political environment, when things go well Bitcoin rises, when things go poorly Bitcoin goes down. It's not a hedge anymore. It's owned by a lot of financial institutions that are holding it, and when things go bad they sell off. When things go well they can buy more, and it just moves with the market from what I can at least see in in the more recent time. You know, 10 years ago, that's a different story than it is today.
