The trade war between Cina and the US favors bitcoin

Bitcoin is increasingly safe-haven asset while mainstream markets tumble. Kate Rooney (CNBC) explains that the Dow Jones Industrial Average fell on May 13. The sharp decline for stocks came after news that China would raise tariffs on roughly $60 billion of U.S. goods in an ongoing trade war between the world’s largest economies. Andy Brenner, director of the International Fixed Income at National Alliance Securities, wrote to his clients: “If I were in China and wanted to diversify, it would seem logical to consider bitcoin a short-term alternative.”