I was reading an interesting article about Robert Kiyosaki, a financial analyst and investor, in which he argues that Bitcoin or metals like gold are a safe haven asset for investors. He also claims that a kind of global collapse in the financial markets is approaching. I am not very interested in this part of visionary because I do not believe that anyone can see the future. But I am interested in the relationship that he sees of Bitcoin as an asset uncorrelated to the global financial market.
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Without a doubt, Bitcoin has always been seen since its beginnings as digital gold and this would reinforce Kiyosaki's theory. But in recent times we have seen how Bitcoin worked quite aligned with the market and, what is even stranger, with interest rates.
So when there are expectations of rate increases, it goes down and when there are expectations of rate decreases, it goes up. I know that it is not one hundred percent like that, but it is the behavior that it has had in the last two years. And Bitcoin is not very old, so it is representative.
Logic tells us that Kiyosaki is right since Bitcoin is an uncontrollable asset at its core but perhaps its value is concentrated in so few hands currently that it has a correlation as high as any other financial product.
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