Allianz Chief Economic Advisor Mohamed El-Erian said that Bitcoin (BTC) has proven itself as a safe haven during geopolitical wars.
Chief economic advisor at German financial services firm Allianz Mohamed El-Erian on October 31st to CNBC in his statement Bitcoin And global economy talked about.
Erian to government bonds While they stated that they lost their confidence in the Bitcoin trustworthy port aspect He emphasized that he highlighted Government bonds have been one of investors’ favorite safe-haven options for decades.
On the other hand, since the outbreak of the war in the Middle East US 10-year bond yield Pointing out that the increase continues, the experienced name said that safe havens escape He stated that it did not happen at the rate he expected:
People refer to Bitcoin as a ‘safe asset’ because they have lost faith in government bonds being a safe asset due to the nature of interest rate risk. However, considering what is happening in the world, there was no escape to safe havens as we expected.