Tushar Jain
@tushar_jain
Cofounder and Managing Partner @Multicoin
Opinions are my own / Not a solicitation / Not an offer for investment advisory services
Joined June 2013
1.2K Following 54.9K Followers
Bitcoin's lack of privacy is a major headwind to its utility as a SoV/safe haven
While Bitcoin gets a lot of attention, it hasn’t played the safe-haven role many expected. In my view, there are a few reasons why.
First, Bitcoin lacks privacy. Transactions can be monitored and potentially controlled, which is why central banks aren’t looking to hold it.
Second, it also has a high correlation with tech stocks. When investors get squeezed in other areas of their portfolio, they sell their Bitcoin to cover it.
Third, it’s a relatively small and controllable market, whereas gold stands alone. There is only one gold.
Ultimately, gold is more widely held, deeply established, and still plays a central role in the global system.
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