Simply Bitcoin: Investors Ditch Dollars for Bitcoin in Record Numbers

Investors have had to contend with big shifts in currency values and interest rates this year. Many are looking for a safe-haven from volatility. Historically, that’s come from areas such as precious metals.

But even gold has been down this year, even if not as much as stocks or bonds. However, even with prices significantly off of last year’s highs, investors are moving into cryptocurrencies, particularly bitcoin.

With a UN Agency asking world governments to stop raising interest rates even with inflation at multi-decade highs, it’s clear that pressures are here to stay. And as governments shift from tightening to easy money policies once again, cryptos are likely to take off.

In the meantime, cryptos offer a way to invest outside the conventional investment universe. That system is partially a political beast, as seen by the lack of bankers being criminally punished for misleading investors or crashing financial markets.

It’s no wonder that investors are continuing to flock to the space. Fiat currencies like the Euro and British pound are watching the value of their currency drop. The move is different than the speculative moves that often occur in the space, given the lack of volatility.

It’s clear that investors are adding to crypto holdings at current prices, with an eye towards protecting their wealth over time, rather than speculating on crypto prices.