RATE Group | Coronavirus Proved Bitcoin is ‘Flight Asset of Choice’, Says CEO
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Coronavirus Proved Bitcoin is ‘Flight Asset of Choice’, Says CEO

14 Feb Coronavirus Proved Bitcoin is ‘Flight Asset of Choice’, Says CEO

Posted at 20:12h in Bitcoin News by

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Could the coronavirus be helping to drive the current price rally in Bitcoin? The CEO of InvestorsHub.com certainly thinks so.

Clem Chambers makes the case that the virus’s outbreak has made safe haven assets more desirable. For him, Bitcoin trumps gold thanks to its portability and convertibility.

Is Virus Behind BTC’s 2020 Gains?

The notion of Bitcoin as a safe haven asset is an increasingly popular one. However, a more established use case for the crypto asset is certainly speculation.

This makes it difficult to determine the exact cause of sudden increases in buying pressure during periods of global uncertainly. As NewsBTC has reported previously, there are plenty that believe it to be speculation on the existence of safe haven investors driving Bitcoin rallies, not capital protection itself.

It’s undeniable that the Bitcoin price has gone up since the outbreak of the coronavirus late last year. However, there are a myriad of factors that could be behind the recent gains,…

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