Bitcoin Failed as a Safe Haven to the U.S. Stock Market: JP Morgan Analyst

Bitcoin has fared poorly as a store of value asset in the past decade, according to John Normand.
The head of JPMorgan’s cross-asset management unit told Bloomberg that gold was a better hedge than Bitcoin since July 2010. While the precious metal proved to be a safer haven six times for the S&P 500 10-worst months, bitcoin posted positive returns on only three occasions.
Source: JPMorgan, Bloomberg
Normand also cited statistics from their January 24 report. On August 31, 2011, for ins