A track record of it failing to hold up under numerous other periods of market turmoil is pretty disqualifying though, as is its spectacular failure to achieve one of its stated goals of being an inflation hedge when we finally got around to experiencing significant inflation.
> track record of it failing to hold up under numerous other periods of market turmoil is pretty disqualifying though
I agree. To be clear, I'm not declaring Bitcoin a safe asset. Just pointing out that it behaved like one in the preceding weeks. That's genuinely interesting.
> its spectacular failure to achieve one of its stated goals of being an inflation hedge
Correct. Though I'd be amiss not pointing out that equities, too, failed their traditional role as an inflation hedge in that time.
I tend to agree. But external stabilization hasn't been a disqualifier for historical safe assets.