💲 [Analysis] What happens to Bitcoin in financial crisis? - Saifdean Ammous and Soona Amhaz

Dr. Saifdean Ammous and Soona Amhaz examine Bitcoin's ($BTC) evolution in a global financial crisis. Ammous and Amhaz utilize Exeter's Pyramid, which correlates liquidity and risk and return across financial assets and shows how highly liquid assets are non-risk averse, while less liquid assets are highly risk averse. In theory, Bitcoin's value as an international payment mechanism and its strict asset scarcity will carry Bitcoin through a global crisis which, according to Ammous and Amhaz, will likely give it an edge over gold. Indeed, the the duo conclude that a few financial crises could see a reordering of Exeter's pyramid with Bitcoin moving below gold.