Share this article
Is Bitcoin a Safe Haven or 'Schmuck Insurance'?
Canada decides a CBDC is unnecessary while the Twitterati debate BTC as a safe haven and the 6-year anniversary of Mt. Gox brings reflection.
Updated Sep 13, 2021, 12:21 p.m. Published Feb 26, 2020, 8:06 p.m.
Canada decides a CBDC is unnecessary while the Twitterati debate BTC as a safe haven and the six-year anniversary of Mt. Gox brings reflection.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.
Bitcoin is having a terrible, horrible, no good, very bad day. Many are using the dump - which from a timing perspective aligns with a broader market sell-off on coronavirus fears - as a way to diminish the “bitcoin as a safe haven” narrative.
In this episode, @nlw revisits that narrative and argues it is uncomfortably bunched up with the uncorrelated asset narrative, or, as Chamath Palihapitiya calls it, “schmuck insurance.”
This episode also covers:
- Central bank digital currency (CBDC) news: Canada says it doesn’t see the need right now but that could change if private cryptos get more traction, while China’s work on a digital yuan is paused due to coronavirus shutdowns.
- The six-year anniversary of Mt. Gox’s lost 750,000 BTC coming to light.
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Plunges Below $90K as AI Worries Drag Nasdaq, Crypto Stocks Down
Chipmaker Broadcom's 10% slide weighs on the market as Chicago Fed's Goolsbee signals more cuts than the median for 2026.
What to know:
- Bitcoin drops below $90,000 as ongoing AI related jitters weighed on U.S. stock market indices.
- Broadcom shares fell 10% on Friday after earnings outlook disappointed investors' high expectations.
- Chicago Fed President Austan Goolsbee, who opposed a rate cut in December, said he is projecting more interest rate cuts in 2026 than the current median outlook.
Top Stories
