Bitcoin: Digital Gold
The fairly sharp rise in the price of Bitcoin at the time of the Iranian-American crisis confirms the intuition we had in June: Bitcoin is acting as a safe haven. This observation leads us to recommend that you keep your Bitcoin, or even add moderately to them, in the light of the twitches of the 2020 world. Apart from Bitcoin, some other cryptocurrency safe havens on offer include Ethereum, Litecoin and Ripple. Try Ekon as well – the gold-backed stablecoin offered in Switzerland. This gold-based crypto is probably a good way to protect your savings. Go easy, though; even if it’s Swiss, it’s far too new to be trusted blindly.
Figure 1 – Bitcoin price in euros, November 2019-January 2020. Source: courscryptomonnaies.com.
A little bird is telling us that it is not by chance that the French government chose to award the Legion of Honour to the CEO of Blackrock-France in the midst of demonstrations against pension reform… Without knowing exactly what is going on behind this ‘gaffe’, if we take a closer look at it, it turns out that Blackrock fears short-to-medium-term turbulences, primarily linked to the upcoming retirement of its visionary founder, Laurence Fink (the Steve Jobs of the Asset Management Dept.), and probably also to the pension fund crisis anticipated by low rates, low bond yields and concerns about active management. If you have shares in this company, or in companies in which Blackrock has shares, be wary.
Figure 2 – BlackRock’s French portfolio. Source: L’Opinon/Boursorama
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