If Bitcoin is a hedge against inflation, then how can it crash when inflation is inching higher? Bitcoin’s 60-day realized volatility is far higher than that of gold, making several investors reconsider their decision to treat cryptocurrencies as a hedging instrument. Read more on the threat to Bitcoin’s hedging asset status, Saurabh Mukherjea's love for bank stocks and more in this week’s edition of ‘Long & Short of Markets’. Gold’s imposter Bitcoin has been touted as a portfolio hedge and is widely regarded as a substitute for gold by many crypto believers. But the recent price movement of Bitcoin shows that it is anything but a safe haven asset. A wild 40 per cent swing after April’s high just strengthens the doubts.