RE:Bitcoin As Safe Heaven?
Even if bitcoin became a standard global currency (which I don't think will ever happen, I think bitcoin will end up being essentially worthless as governments make their own cryptos, or people try to cash in and find out no one will buy or the green movement starts to realize how much coal is burned to generate the electricity to mine the bitcoin) then people will still buy things with bitcoin, including gold. I'm well aware of the arguments about the advantages of bitcoin and the blockchain technology. Not enough of the in control elite own bitcoin to allow it to be anything but a distraction. If you own things of value, like land, gold, silver, ships, buildings, essential skills or a trade people with bitcoin or cash or gold will want to buy them from you and they will still have value. I focus on owning these things of value and don't own any crypto. However, i think gold has always been the standard and will always be the standard going forward. I think we will eventually see an IMF or mixed china/us/euro/? cryptocurrency like the spdr backed by gold and maybe other commodities mixed in as the standard, or we will see government issued cryptocurrencies. The best opinions I have seen argue to add in bitcoin as part of the hedge in any portfolio, including gold and silver, so own some gold, silver and bitcoin for maybe 5 to 10 percent total of portfolio. I personally don't agree.