Robin Brooks says Bitcoin is not a safe-haven asset or store of value

Economist Robin Brooks said Bitcoin is neither a safe-haven asset nor a store of value, according to a post on X. Brooks said Bitcoin does not belong to the asset class that benefits from currency debasement. Since investment flows tied to debasement themes began in earnest, Bitcoin has consistently underperformed precious metals, he said, adding that this suggests Bitcoin is not a safe-haven asset or a store of value like gold. Brooks emphasized that while this is partly a matter of perception, it is also reflected in actual price moves. Brooks is currently a senior fellow at the Brookings Institution, a U.S. think tank.