#比特币避险属性 Previously, Bitcoin's safe-haven properties attracted a lot of attention because its high level of anonymity and untraceability made it the best asset to hold in times of chaos. Many people have doubted this attribute, but in the past few years, there hasn't been an asset like Bitcoin. Relying on features such as a fixed total supply, decentralization, and global liquidity, Bitcoin has been market-credited with the safe-haven label of "digital gold." In theory, it can hedge against excessive fiat currency issuance, sovereign credit risks, and financial system uncertainties. It has demonstrated safe-haven value during some emerging market currency crises and banking risk events. However, empirical evidence shows that its safe-haven properties have significant limitations: high volatility, a higher correlation with high-risk assets like US stocks, and being sold off first when liquidity tightens, causing it to behave more as a risk asset rather than a stable safe haven during global panics. Overall, Bitcoin has certain safe-haven value in specific scenarios but has not yet become an universally recognized safe-haven asset. As gold prices continue to rise, gold's safe-haven attributes far surpass those of Bitcoin.