Institutions Eye Bitcoin as Hedge Against Global Economic Volatility
Cointelegraph
Published Feb 19, 2020 12:01PM ET
Updated Feb 19, 2020 01:42PM ET
Institutions Eye Bitcoin as Hedge Against Global Economic Volatility
The world has arguably been teetering on the brink of a recession for months now. But recent events could be pushing the global economy even closer to the precipice. The coronavirus outbreak has choked China’s output, leading to predictions that it will trigger a global slowdown. Europe is facing its own challenges amid ongoing Brexit uncertainty, economic contraction in Germany, and the continuing strikes in France.
So, it’s unsurprising that investor attention is turning to the asset classes that do not correlate with the stock markets. The price of gold saw an uptick in the first week of February, as did the price of Bitcoin (BTC), which rose above $10,000 for the first time this year.
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Written By: Cointelegraph
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