The ever-rising trade war between the US and China is leading to Bitcoin being seen literally as a safe haven. Investors seeking to avoid the effects of this war are transferring their money to Bitcoin.
Chris Reinertsen, CMO of Rhythm Technologies, one of the Blockchain companies, recently gave an exclusive interview to Forbes and talked about Bitcoin’s recent uses.
During this interview, Reinertsen focused specifically on the trade war between the United States and China, and mentioned that Bitcoin played a very important role in this war. Reinertsen says people who don’t want to be affected by this war are trying to protect their personal capital and in doing so are taking advantage of Bitcoin:
“Over the past few years we have seen Bitcoin’s relationship with macro mobility begin to strengthen as economic uncertainties around the world grow steadily.”
The view that bitcoin has become a safe haven for investors doesn’t just belong to Reinertsen. Don Steinbrugge, CEO of Agecroft Partners, also spoke about the issue and commented::
He said: “some people are using Bitcoin to avoid being affected by inflation.”