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On June 11, South Korean experts stated through local media that cryptocurrencies are a “poor choice” of safe-haven assets during the COVID-19 pandemic.
According to The Scoop, Professor Hong Ki-hoon of Hongik University stated that crypto-assets like Bitcoin (BTC) should not be considered as “safe-haven assets,” at the level of Gold, dollars, or even the U.S. Treasury bonds. He does not deny, however, that volatility in the financial markets is causing more money to accumulate in the crypto market.
Cryptos are not safe from the Pandemic
Hong, from the Business Administration department of Hongik University, says:
“To be a safe-haven, two conditions must be met. First, the volatility of the asset’s value must be low, and second, when market vol
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