[ludamad]

The volatility in price seems okay as far as diversification, there was some low probability of crypto prices being this high and it happened. The private key hygiene is really worrying though. You can have private key multisig but at some basic level the funds can just disappear once someone accumulates enough keys (e.g. corrupt persons sell them on black market). Or be lost if enough keys are lost etc. It requires pretty diligent process, especially during changes of power

[jjoonathan]

How is bitcoin diversification when it correlates so strongly with the stock market?

[ludamad]

Not trying to make a strong statement but obviously correlation in moves doesn't mean it's been pegged to SPY. If they could have a digital asset pegged to SPY, maybe it'd be attractive, as well