Coinspeaker
Bitcoin Preferred to Dollar and Yen as Safe-Haven Option amid Higher US Debt-Limit Default Risks
Amid rising debt-limit default risks, Bitcoin (BTC) is the preferred safe-haven asset compared to other established global fiat currencies. A recent report stated that investors have turned to BTC to hedge their investments, compared to the US dollar, Japanese yen, or Swiss franc-yielding assets. In addition, Bitcoin’s growing popularity as a veritable option rivals that of gold now.
The likelihood of a US debt default is at its highest point in recent times and threatens to upend global markets. The ongoing US banking crisis has done little to assuage fears, with more investors repurposing their assets toward crypto. Some analysts believe BTC’s rising popularity could see the popular crypto revisiting its record high in early 2024. With institutional investors braced to invest in Bitcoin in the second half of this year, the asset is already experiencing a diminishing co
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