Bitcoin Not Yet A Short-Term Risk Diversifier Like Gold, Says Jeremy Siegel: ‘It Will Snap Back But…’

Veteran economist Jeremy Siegel said Monday that while Bitcoin (CRYPTO: BTC) has positives, it does not qualify as a short-term risk diversifier asset.

‘Bitcoin Still Not There’

In an interview with CNBC, Siegel discussed the market’s outlook following a sharp rebound from last week’s sell-offs.

When asked about Bitcoin, he highlighted that the apex cryptocurrency did not prove to be a “good risk diversifier” during the shock.

“It will snap back, but for people who are thinking about what’s going to diversify for short-term risk, Bitcoin is still not there,” Siegel, professor emeritus at the …

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