PANews reported on May 2, according to MarketWatch, that earlier this month, U.S. Treasury bonds experienced a significant sell-off, while Bitcoin has shown relative strength compared to U.S. stocks and the dollar in recent weeks. However, Nationwide Financial's Chief Market Strategist Mark Hackett believes this does not mean Bitcoin has suddenly joined the ranks of traditional safe-haven assets or has become a store of value or defensive asset. Gold is clearly a defensive asset, while Bitcoin is more of a risk appetite asset rather than a safe-haven asset, with changes only occurring recently. It is "premature" for Bitcoin bulls to claim it has become a store of value, but this trend is worth watching.