ARSC - Bitcoin Is Not A Safe Haven Yet

By Jim Iuorio

At A Glance

• Despite talk of bitcoin graduating to safe haven status, the cryptocurrency still has routine 10 percent intraday moves.
• Gold and U.S. bonds maintain the strongest inverse correlation to risk assets like stocks.

In early July, I wrote an article discussing bitcoin's progression into a viable fiat currency proxy in a world of overzealous central banks.

A couple things have changed since then that have added wrinkles to the story. Most importantly, global central banks, including the U.S. Federal Reserve, have moved from dovish to really dovish. The U.S. 10-year

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