Can Bitcoin be a safe haven? My answer to this question is clearly No. At least right now, who knows if it will be possible one day. I was reading an article about how in some emerging countries their citizens use Bitcoin as a safe haven from the financial instability of their states.
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I think this is a mistake and they are taking an excessive risk. Bitcoin is right now possibly the best investment in the medium or long term but that is how it should be seen as an investment. Its short-term volatility does not make it a good safe haven asset.
Many times Bitcoin has been compared to Gold and it is not something that is completely wrong but right now they are not equivalent.
If you live in an emerging country and you put your savings in Bitcoin it can fall very quickly. If you need the money it can be even worse than one of the state currencies. So for those cases it would be better to use stable coins. It is more of a basket of these to avoid possible problems. This is a much more stable solution than investing in the king cryptocurrency.
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