Markets' Wildest Assets Are Becoming a Haven While Korea Tension Mounts

in bitcoin •  last year

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Some investors are turning to an unlikely safe haven as the rhetoric between U.S. President Donald Trump and North Korea intensifies.

Bitcoin, ethereum and other digital currencies, among the most volatile assets around, are gaining in part as traditional refuges such as gold and U.S. Treasuries lose some of their luster.

We’re seeing investors transferring their funds into cryptocurrencies as they try to diversify their risk in case of a severe downturn in the market,” said Ron Chernesky, chief executive officer of trading platform InvestFeed Inc. which is switching from equity trading to cryptocurrencies. “The space has gone from niche to more widely adopted with one of the main draws being that crypto currencies are seen as less correlated with other assets.”

SOURCE: https://www.bloomberg.com/news/articles/2017-08-10/markets-wildest-assets-becoming-a-haven-as-korea-tension-mounts

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