The Ukraine war has shown that cryptocurrencies are no hedge against equities

The near halving of cryptocurrency prices in recent weeks, mirroring a sell-off in the global stock markets, indicates that digital coins may not be a particularly reliable asset during economic uncertainty. The Russia-Ukraine war and the US Federal Reserve’s move to scale back monetary support have forced investors to switch from risky assets like equities to safer alternatives. Cryptocurrencies, otherwise deemed a safe bet against inflation, don’t seem to fall in the “safe” category.