“Bitcoin promises to be digital gold: safe, valuable, and rare. That could explain much of
the cryptocurrency’s rally over the past year.
Unfortunately, like gold, bitcoin’s status as a safe haven is more theoretical than anything
else. Rather than stability it offers investors volatility and a chance to speculate on the
market’s sentiment towards the currency. The recent rise in the cryptocurrency’s
valuation is no different. Investors looking for a safe place to keep their wealth should
look elsewhere”, Financial Times editorial, “The elusive promise of Bitcoin”, November
14, 2020.
Required: Critically evaluate the above editorial comment. Use tables, charts, and any
relevant online resources to support your arguments.
