Bitcoin is both a risk on speculative asset and a risk off safe haven asset simultaneously


It is a risk on speculative technology play based around its potential to become the worlds payment rails disrupting banks SWIFT visa and mastercard.

It is a risk off safe haven store of value play based around its sound money characteristics and scarce supply disrupting gold as the superior safe haven asset.

During times of risk on speculation bitcoin rises alongside technology stocks and during times of risk off recession, financial crisis, high inflation and market chaos bitcoin will rise along side gold.

We know how well bitcoin performs in a risk on speculative mania like 2013 2017 and 2021 but we do not yet know how well it will perform as a superior form of gold, and it is my thinking that its safe haven gains will be far greater than any of its speculative gains seen so far. A safe haven bull run could see gold double to a $25 trillion market cap and bitcoin match golds market cap putting bitcoin at $1.25 million per coin.

There is no other asset on earth that has the potential to be both a risk on speculative asset and a risk off safe haven asset simultaneously. This is unprecedented in terms of global asset classes and goes to show that bitcoin is in a league of its own.

If the world recovers bitcoin will benefit. If the world falls apart bitcoin will benefit. For this reason there is no better asset to own.