Tiger Research: Bitcoin is not yet 'digital gold'

Asian Web3 research and consulting firm Tiger Research argued that Bitcoin is not yet fulfilling the role of "digital gold," according to a new report. The report, titled "Bitcoin Plunges on Iran Airstrike, Still Digital Gold?," noted that Bitcoin has repeatedly shown a pattern of sharp declines during six geopolitical crises, unlike gold. While nations hoard gold, Bitcoin is still only under consideration, the firm added. The report identified three factors preventing Bitcoin from becoming a safe-haven asset: - An excess of derivatives in its market structure. - A participant base dominated by leveraged traders. - A lack of accumulated behavioral records. However, the firm suggested that Bitcoin could be a useful asset in a crisis where banking systems halt. If changes occur in these three areas, Bitcoin has the potential to establish itself not as a replica of gold but as the "Next Gold," the report explained.