Stefan Molyneux
  • last year
Is Bitcoin a Safe Haven?

See and share more shorts at https://fdrurl.com/tiktok

Watch the entire show at https://fdrpodcasts.com/5588/the-economy-crash-or-correction
Transcript
00:00The question with regards to those pro-Bitcoin and those skeptical of Bitcoin is, is Bitcoin
00:08a safe haven?
00:10Is Bitcoin a safe haven?
00:14And so the store of value thesis is, this is where you put your money in emergencies,
00:21but if people are selling Bitcoin because of an emergency provoked by this Bank of Japan
00:26rate hike, then you say, well, it's not a store of value because it's too variable.
00:30Look, it's just crashed 25% and so on, right?
00:36And the challenge, of course, is that this is the problem with the Bitcoin ETFs, which
00:43I talked about last year quite a bit.
00:46The problem is that you have a bunch of people in the financial industry who are into Bitcoin
00:50and other stuff, right?
00:52So they're not like Michael Saylor, all in one boner for the BTC.
00:57They are in Bitcoin and a whole bunch of other stuff, and what that means is that when the
01:01price of the whole other stuff changes, the Bitcoin price is affected because they have
01:05to sell Bitcoin to cover losses, and if they have profits, maybe they'll buy Bitcoin.
01:10So in this case, Bitcoin is tethered to the main economy, the fiat currency economy.