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Kraken Manager: Bitcoin is not yet a haven

Nelson Minier, director of direct trading at Kraken, compared the current cryptographic currency trading industry to Wall Street, adding that it was still too early to call Bitcoin a haven for investors.

August 22 published Interviews with Nasdaq TradeTalks revealed to Minier:

"Wall Street is not what it used to be in my first 15 years on Wall Street, I had fun, I was very lucky, I started in the CDS market. , which is very similar to crypto.Here you have a lot of financial innovation, a lot of trading.It is very similar […] There is a lot of energy and enthusiasm for this progress and for its future. "

It's too early to call Bitcoin a refuge

The interviewer also responded to the increasingly popular idea that Bitcoin (BTC) would become a safe haven since it was not exposed to the monetary constraints imposed by Fiat currencies. Minier said that he thought it was too early to call Bitcoin a safe haven because of its high volatility. He also admitted:

"Well, I'm not sure yet if it's a safe haven, but I think it's starting to look like it." I think people are starting to manage the portfolios and are starting to settle slowly. And when the market shook, you saw Bitcoin go up. I mean, you would not see that before. It was like a risky asset. "

Eventually, he came to the conclusion that Bitcoin, even though it's too early for a safe haven, "certainly goes in that direction."

As recently emphasized Cointelegraph, market analyst and market research firm Fundstrat Global Advisors, Tom Lee, is convinced that bitcoin has already become a real haven for investors.