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The Dollar’s Lost Its Sparkle — Investors Seek New Safe Havens
My last article, explained Meme style meltdown of World’s favorite safe haven asset, $, how it’s down compared to all other alternate global currencies in the DXY index – mostly Euro, Pound and Japanese Yen. This meant these fiat currencies became alternate safe haven cash holds for investors to hold their wealth firm.
We all know Gold’s now the star Safe Haven asset!
All these points are nicely summarized by the Gold Bug who is allergic to Bitcoin!
Did you guess who I am alluding to here ???
It’s Peter Schiff!
Bitcoin’s Safe Haven Narrative Is No Longer a Meme — It’s Market-Backed
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I don’t need to explain the loss of value of USD compared to other major currencies in DXY now, as I and Peter Schiff have explained it already, and I have done it with graphs and memes too!!
USD Meltdown: The Safe Haven Asset That Danced with Tariffs
However, I unlike Peter Schiff am not allergic to Bitcoin(: and I will highlight, that BTC is also beating USD as a Safe Haven asset now.
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Look, Look Look…!!
BTC’s Recent Rally Shows It’s Ready for the Safe Haven Spotlight
BTC stopped declining from April 9th, has formed support at 76,400$ range and crossed resistance of 88,906$. It’s definitely also outperforming USD, and has made place for itself in the Safe Haven Club. Do note there’s strong double support at 76,400$ range!
Ofcourse, I can’t say if this is BTC’s time to have its bull run, that we got to watch, but definitely it’s a promising sign that BTC has taken those nice green steps appreciating in value against dollar.
One reason why BTC’s showing strength now, is because $ is showing weakness, with Dollar’s strength at the DXY fallen to a 3 year low!
From Saylor to MetaPlanet — Bitcoin’s Hi-Fi Backers Keep Stacking
One thing to note is that Bitcoin, has Hi-fi fans today for a while, who consider the asset to be Digital Gold and hedge against fiat inflation.
Ohh yes, do I need to even mention some of the names of BTC’s most prominent Hi-fi fans as my readers can guess them.
Yes… As expected, Micro Strategy’s Michael Saylor has kept buying BTCs.
Now, rebranded to Strategy the company’s not changed it’s fixed stratergy of purchasing Bitcoin. Now, Strategy hold’s 531,644 BTC in it’s accounts that’s equalent to 2% of BTC’s supply!
Alright, Michael maybe mad over Bitcoin, but now Japanese company MetaPlanet has joined the Corporate BTC holding league.
MetaPlanet has recently purchased 330 BTC spending about 28$ million JPY for it’s Bitcoin purchase! MetaPlanet’s began accumulating BTC since last year April and holds a total of 4,855 BTCs in its account.
So, BTC’s already a mature enough safe haven asset, having found institutional adoption!
Conclusion: Bitcoin’s Safe Haven Era Has Begun
So, all in all, it’s very provable that’s BTC’s going to play a role of being a safe haven asset following the footsteps of Gold.
And one can be sure, that Trump has not imposed Tariffs on Bitcoin, not yet(:, it’s confirmed by Michael Saylor !
In my next article, I would highlight more reasons, why BTC’s price should appreciate, meme-style, please wait for it. Till then, good day forks! …