• Bitcoin still trades like a risk asset during uncertainty, says Willy Woo.
• NASDAQ correlation keeps bitcoin tied to macro stress, limiting safe-haven behavior.
• Market acceptance may take years before bitcoin rivals gold, according to Woo.

Analyst Willy Woo explained why bitcoin continues to trade like a risk asset despite having safe-haven properties. On April 24, his remarks focused on bitcoin’s ability to protect wealth across borders during war, while major capital pools still view it as new and untested.

“It has the properties of a safe haven asset. In times of war you can take your seed phrase, cross borders and start afresh without losing your wealth,” Woo detailed. Bitcoin’s design reflects characteristics typically associated with safe-haven assets, particularly its portability and independence from the traditional financial system. Its seed phrase model allows holders to retain access to wealth even in extreme scenarios such as displacement or conflict. The analyst asserted:

“Most bitcoiners think BTC is a safe haven asset but the truth is nuanced.”

“It should be independent of the system and thrive if it collapses. These are the properties you’d expect of a safe haven,” Woo emphasized. Despite these attributes, bitcoin’s real-world market behavior continues to diverge from that expectation, particularly during periods of uncertainty and global tension.

“ BTC has the properties of a safe haven but to this day, in times of uncertainty and war it trades like a risk asset, very sensitive to uncertainty,” Woo acknowledged. “This is because the large capital pools don’t acknowledge BTC’s properties as it’s considered too new and untested. Hence, it trades like the NASDAQ.”

Woo’s statements suggest bitcoin’s safe-haven classification remains tied to investor perception rather than its underlying structure alone. While its decentralized nature and self-custody features align with safe-haven theory, market pricing continues to be driven by institutional behavior and liquidity flows. As long as large capital allocators treat bitcoin as a speculative asset, it is likely to remain correlated with risk markets during stress events. He concluded:

“It’ll take another decade for it to gain market acceptance as a safe haven, maybe longer. When it does, it’ll give gold market cap a run for its money.”

Woo’s outlook frames bitcoin’s trajectory as a gradual shift tied to trust and adoption. This suggests that repeated exposure to macro crises, along with deeper institutional participation, could help reposition bitcoin closer to traditional safe-haven assets. Until then, its dual identity—both protective in design and risk-driven in price—may continue to define its role in global markets.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。