Bitcoin’s price has steadily risen since it fell below $6,000 in 2020.
Pierre Rochard argues that Bitcoin is not a reliable disaster hedge.
Bitcoin’s price has surged by 1.83% in the last 24 hours.
The Bitcoin (BTC) trading price has been on the move since the beginning of 2023. Bitcoin has steadily risen since the digital token recorded a price below the $6,000 level in 2020. Pierre Rochard, VP of Research at Riot Platforms, recently claimed on Twitter that data invalidates the belief that Bitcoin serves as a “disaster hedge.” He pointed out that when panic ensued on March 12, 2020, BTC/USD experienced a crash.
It’s a myth that #Bitcoin price is a “disaster hedge”, invalidated by data. Look at March 12 2020 panic, BTCUSD crashed.
A more realistic way of looking at long-term #Bitcoin price is that it’s a rough proxy metric for global adoption, driven by its user freedom fundamentals.
— Pierre Rochard (@BitcoinPierre) May 4, 2023
Instead, he suggests that a more re
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