Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?

The usual safe-haven trades are the only silver linings in an ugly Friday trading session. The iShares Barclays 20+ Yr Treas.Bond (ETF) (NASDAQ:TLT) is up 2.7 percent and the SPDR Gold Trust (ETF) (NYSE:GLD) is up 4.6 percent.

However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. Its strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings.

I dont think it is a traditional safe-haven trade but a strategy to avoid official manipulation, Swissquote Bank analyst Peter Rosenstreich explained.

Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin.

Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency.

While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered digital gold, bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty.

Disclosure: The author holds no position in the stocks mentioned.