Comment Flight to quality (Score 1) 83
The US has had price shocks with Iran and Russia and..... there was a flight to quality. To GOLD. The price of bitcoin sat flat, and then shrank, whereas the price of gold keeps going up and up. Bitcoin never really recovered after that. First real test of bitcoin as a store of wealth and it failed. It's never really recovered since then. Gold remains king.
I don't actually own any gold and don't have an interest in it, but it's been hilarious to hear people claim bitcoin was digital gold, and when push came to shove, people pushed bitcoin off a cliff, and the price of gold stayed strong, proving all the bitcoin promoters wrong once and for all.