Bitcoin's Not a Great Hedge Against U.S. Stock Losses Either

One of the most common investment arguments for Bitcoin -- that it’s a superior store of value to traditional hedges such as gold -- doesn’t actually hold up that well, according to an analysis from John Normand, head of cross-asset strategy with JPMorgan Chase & Co.

During the 10 worst monthly performances for the S&P 500 since the earliest available Bitcoin pricing on the Bloomberg terminal in July 2010, the largest digital currency posted a positive return in only three of them, according to data compiled by Bloomberg and JPMorgan.