In my opinion, I think we should not expect investors to easily consider Bitcoin as an alternative investment to high-status assets such as gold and commodities. In fact, Bitcoin still has a long way to go in order to catch gold in terms of history, price stability, and accessibility. So, a word of caution is warranted here. The status of Bitcoin in the international financial market
is far from being solved, despite the launch of the Bitcoin futures contracts by the CME and CBOE in December 2017, which added some legitimacy to Bitcoin and may ultimately help manage its price volatility.
I can see investors and traders now have strong empirical evidence that Bitcoin has some of the virtues of gold and commodities against extreme down movements in the world stock market index. However, stock investors in developed markets have no choice other than gold as a safe haven asset ( as we have seen recently during the crash of March when investors turned into gold), given that Bitcoin fails to offer such a property. Interestingly, Chinese investors can consider Bitcoin as
a safe-haven asset despite the restrictions taken by the Chinese government against Bitcoin exchanges and trading activities.
Please tell me when do you think Bitcoin will replace Gold as a safe haven and why?
It took a long time before people began to accept paper money as a medium to exchange for Goods and services. If Paper money was not accepted immediately but took decades before it gained its footing as it has today, then nothing is new about Bitcoin. It will take some time before people get used to Bitcoin. The best one can do is be patient