Bitcoin still a safe haven asset despite recent wild ride

Bitcoin has been on a rollercoaster ride over the last couple weeks.

But that isn’t stopping Circle CEO Jeremy Allaire from reassuring the crypto faithful that Bitcoin remains an “attractive” safety blanket from global economic uncertainty.

Following President Donald Trump’s announcement late last week that $300 billion in new tariffs would strike several new products from China, Bitcoin jumped into the $11,700 range. Meanwhile, the stock markets showed signs of stress and decline—a scenario which appeared to reinforce the idea that a growing number of people may view Bitcoin as a form of “digital gold” to preserve their wealth in times of economic crisis.

Since then, the price has died down a bit as concerns regarding the trade war have begun to subside. Just yesterday, Bitcoin was trading at $10,300, a drop by roughly $1,400 since early August, though it’s now moved up to about $10,700.

But despite those sharp ups and…