The current sell-off of encrypted assets is testing a rare industry belief - Bitcoin is equivalent to "digital gold", therefore, being included in asset investment portfolios can hedge against stock market volatility. On Monday, the stock market plummeted and arbitrage trading was closed. Bitcoin's performance was more like a stock than gold, plummeting 17% at one point, falling below $50000, before recovering some lost ground. Bloomberg compiled data showing that Bitcoin and precious metals became negatively correlated in July. @drivenbyboredom @ftor26