Analysts: Bitcoin Could Be a "Save Haven" Amid Recession Concern
Amid a large economic downturn recently, there are wide concerns about an incoming recession in the United States. With that, the US dollar and overall economy take a huge tumble, heavily harming investors’ wallets. However, with its recent growth and developments as a major talking point, some analysts believe that Bitcoin , the leading cryptocurrency, could be a “safe haven” amid the recession concerns. Indeed, Bitcoin is growing more and more popular each day in the US, even becoming a talking point in government and in the presidential election. The US Department of Justice currently holds billions of dollars worth of seized bitcoin. With this stash, there have been proposals to transfer Bitcoin to the Department of the Treasury to transform BTC into a reserve currency for the country, which has brought mixed reactions. While it may be a long and complex process, the idea isn’t impossible and would set Bitcoin up to be a major game-changer for the safety of t...