No Refuge

You got me running
Going out of my mind
You got my thinking 
That I'm wasting my time
--ELO

Bitcoin has been proposed as an alternative money. Such a money should have little correlation to other asset classes--particularly risk assets.

However, the correlation between Bitcoin and tech stocks is high and has been getting higher.

Anyone seeking refuge from current stock market volatility by owning Bitcoin has been sorely disappointed.

no positions