Trump President's Tariff Policy Followed Asset Class Changes Pointed Out
"BTC, Performing Role Similar to Gold, Escaping from Risky Assets"
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NYDIG, through a report released on the 28th, identified Bitcoin's trading patterns over four months and pointed out that Bitcoin is being separated from risky assets.
Greg Cipolla, NYDIG's Global Head, said, "During April, Bitcoin showed a pattern different from existing risky assets" and "The buying trend and price movements Bitcoin showed in April were clearly closer to safe assets rather than risky assets like leveraged US stocks."
He further emphasized, "Especially, Bitcoin's flow showed the appearance of a value store where the subject of asset producers is not clear."
Specifically, NYDIG pointed out cases where Bitcoin rose by 13% over a month due to the full-scale tariff war by Trump, the US president in April, while the US stock market, especially tech stocks, sharply declined.
NYDIG attached the US stock market volatility index 'VIX Index', foreign exchange market volatility index 'CVIX Index', and interest rate and bond volatility index 'MOVE Index', claiming that global capitals fled to safe assets due to macroeconomic risks.
NYDIG argued that gold and Swiss franc have consistently performed the role of a safe asset haven, and Bitcoin will also share this role.
Cipolla stated, "There are no options to find another alternative safe asset in the traditional financial system, and while gold records a market capitalization of about 22 trillion, Bitcoin's market capitalization is about 1.8 trillion, so there is still great growth potential."
Meanwhile, Cipolla explained that Bitcoin is thoroughly separated from altcoins in terms of usability. He said, "Bitcoin focuses on the function as a value store, while other cryptocurrencies have usability as a decentralized application platform."
Reporter Seung-won Kwon ksw@blockstreet.co.kr
