Bloomberg Analyst Says “Bitcoin Won’t Save You in a Market Downturn,” Shares His Opinion

Bloomberg Intelligence’s Athanasios Psarofagis says Bitcoin (BTC) $BTC isn’t living up to its “safe-haven” hype. Speaking on ETF IQ, he noted that gold consistently outperforms BTC on days when the S&P 500 drops, showing more stability while Bitcoin tends to weaken.

Psarofagis highlighted that Bitcoin’s $BTC fixed supply of 21 million and its resistance to government replication make it appealing to investors. However, he noted that BTC $BTC has fallen short as a safety net during market downturns—particularly when tech stocks dropped—though it has shown strong performance in bullish periods.

Is gold still the real king in times of market stress?

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