Is Bitcoin A Safe Haven or ‘Schmuck Insurance’?

<p><span style="font-weight: 400;">Bitcoin is having a terrible, horrible, no good very bad day. Many are using the dump - which from a timing perspective aligns with a broader market selloff among Coronavirus fears - as a way to diminish the “bitcoin as a safe haven” narrative. </span></p> <p><span style="font-weight: 400;">In this episode, @nlw revisits that narrative and argues that it is uncomfortably bunched up with the uncorrelated asset narrative, or, as Chamath Palihapitiya calls it “schmuck insurance.”</span></p> <p><span style="font-weight: 400;">This episode also covers:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Central bank digital currency (CBDC) news: Canada says it doesn’t see the need right now but that could change if private cryptos get more traction, while China’s work on a digital yuan is paused due to Coronavirus shutdowns. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The six year anniversary of Mt. Gox’s lost 750,000 BTC coming to light.</span></li> </ul>