U.S. investors trust Bitcoin more than the U.S. dollar as a safe haven, according to a survey. In the event of a U.S. default, 7.8 percent of professional investors and 11.3 percent of retail investors would buy Bitcoin. That’s more than the U.S. dollar, preferred by 7.8% of professional investors and 10.2% of retail investors. Gold and treasury bonds are in the lead.
Bitcoin is safer than the dollar for Americans in case of default
The United States is more exposed than ever to a debt default. If no agreement is reached between Democrats and Republicans to raise the debt ceiling, the government could be unable to pay all of its obligations as early as June.
This default would have repercussions on other markets, far from the US. What would U.S. investors do to protect their wealth if the country were to default? This is the question that Bloomberg posed to 637 investors.
The results of Blomberg’s survey reveal that the Bitcoin is more reassuring than the dollar. 7.8% of professional investors and 11.3% of individual investors would convert their funds into Bitcoin. This is more than the dollar, chosen by 7.8% of professional investors and 10.2% of individual investors. The yen and the Swiss franc follow the dollar.
Bitcoin is not the first financial alternative preferred by Americans, however. Gold and treasury bonds come ahead of the crypto-currency queen.
Gold still considered the ultimate safe haven
For American investors, the precious metal is the first choice of protection against a default. Indeed, 51.7% of professional investors and 45.7% of private investors see gold as the alternative safe alternative in case of default. This is undoubtedly proof that the oldest safe-haven asset still has the confidence of investors.
U.S. Treasuries come in second with 14% of professional investors and 15.1% individual investors.
It is particularly interesting to note that Bitcoin is considered more secure than strong fiat currencies such as the U.S. dollar, the yen or the Swiss franc. This is exactly one of the reasons for its existence, according to Satoshi Nakamoto. If the US defaults in June, it could boost the adoption of Bitcoin. We should also expect a much higher value than the possible $32,000 in June.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.