Banking giant UBS is skeptical that Bitcoin is a safe-haven asset, according to a report issued on September 9 by its Swiss division.
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A safe-haven asset is a financial instrument that is expected to retain or grow in value during periods of economic decline. They exist independently of the wider economy, which means they can resist market crashes and provide investors with profit when other traditional assets fail or depreciate over time.
While the demand for safe-haven assets is growing, the UBS report suggests Bitcoin is not one of them.