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How's is bitcoin even a hedge against the dollar when it's correlated with the U.S. stock market? So many things just don't add up, like is btc a currency or an

• ur-whale 5y ago
  > when it's correlated with the U.S. stock market? Source?
• swensel 5y ago
  I'm a Bitcoin fan and I actually do agree, some of the narratives conflict. From my perspective it is a new asset class and the world is still figuring out what it is. It does, so far, seem to be a risk on asset, as it didn't perform well in March 2020. It is already storing over $1 trillion of the world's wealth though, and in this case, money talks. Yes, it might have a correction, but the S&P 500 might as well. That said, Bitcoin's properties may change over time, and it may become more of a hedge. It does seem to have a lot of believers, and IMO, the technology is what makes it very interesting. It has been running successfully for a decade, and we'll be able to figure out more of what it is in 2, 3, or 5 years. I think, why not hold some, even just a little bit? IMO, people shouldn't put 100% in, and definitely don't take out any loans to do so (maybe unless you are a company, but I'm against individuals taking loans out for it). You never know, maybe some of the current narratives are correct.
  • chriswarbo 5y ago
    > I think, why not hold some, even just a little bit? Because that perpetuates and inflates the Pozi scheme. Any "little bit" of positive now will be more than offset during its collapse, having a larger negative effect on more people.