Looking at the available data, it seems that the leading cryptocurrency Bitcoin is indeed a means of value retention and savings in the face of the Coronavirus outbreak.
Is Bitcoin a Safe Harbor?
The famous manager of Ikigai, Travis Kling, said in a statement about the issue that despite the volatility, BTC has indeed proved to be a value-keeping tool.
The price of #Bitcoin increased 0.60% from the end of February to the end of April amidst one of the most catastrophic economic events in history.
A store of value.
— Travis Kling (@Travis_Kling) May 1, 2020
In his tweet, Kling stated that the price of BTC increased by 0.60% during the period from the end of February to the end of April. Despite the fall on March 12, when oil sees the bottom and the US stock markets are upside down, it is definitely a great success for Bitcoin to get off where it fell.
In addition to Bitcoin, another important asset that has been on the rise since then is known to be physical gold. Although BTC has been criticized for not being a real value-keeping tool due to the fall on March 12, the past few weeks managed to embarrass critics.
The further rise of Bitcoin with Halving in the next two weeks may give BTC a great opportunity and launch FOMO in the event of a global crisis.