Although Bitcoin does not carry all of the intrinsic characteristics of physical gold, it has in its short time become a go-to safe haven asset according to many hedge fund managers and institutional investors. In fact Bitcoin appears to be ready as even a replacement for sovereign bonds in the advent of the next financial crisis or stock market crash.
Graphic courtesy of Coin Telegraph
Bitcoin could become a lifeline for hedge funds and other investment professionals in case the established financial system fails, says Mikhail Mashchenko, an analyst at the social network for investors eToro in Russia and CIS.
“The demand for bitcoin is growing as the crypto market has become less volatile, and an increasing number of professional investors see it as insurance,” the analyst told RT.
Digital platforms have been trying very hard to attract institutional investors, according to Mashchenko.
“LedgerX launched its first long-term options for bitcoin, with an expiration date of December 28, 2018. In the coming months, we will continue to see the ‘domestication’ of bitcoin: the Chicago Board Options Exchange and the Chicago Mercantile Exchange are planning to launch tools based on the cryptocurrency in the near future,” he said. - Russia Today
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