Bitcoin as a safe haven? More a speculative bet, market players say

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LONDON (Reuters) - Bitcoin’s recent gains as stocks plummeted on U.S.-China trade tensions reflect not so much its safe-haven credentials but its potential for quick gains, cryptocurrency and foreign exchange traders said on Tuesday. The biggest coin jumped over 7% on Monday as U.S. stocks slumped 3%. Safe haven assets from the Japanese yen to gold to government bonds - expected to hold or gain value amid turbulent markets - also rallied as investors fretted over the impact of the trade war on the world economy. Crypto enthusiasts said the moves heralded bitcoin’s achieving its potential as a haven. Bitcoin, their argument goes, is immune to the impact of geopolitical tensions or government interference because of its decentralized nature. Unlike government-issued fiat money, bitcoin is produced by miners across the world racing to solve computer puzzles. Its supply is also capped at 21 million, a scarcity aficionados say gives it…

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