The long sought after non-correlated asset – the safety raft, the lifeline, the shelter from the bear market. When it all comes tumbling down, what will you be left holding?

Gold? Cash?

Bitcoin! The volatile asset may not seem like an obvious choice, but it and other crypto assets are emerging as popular safety nets.

In many ways, Bitcoin was created to be a hedge against the financial system. Its first block was mined in the wake of the largest recession since the Great Depression, and it’s white paper proposed a new global and independent currency.

Despite Bitcoin’s best intentions, it hasn’t always been crystal clear if its price was affected by the movement of traditional stock markets. But recent volatility across international markets is helping BTC’s bid for the title of superior non-correlated asset.

Last Monday, China announced plans to raise tariffs on $60 billion worth of U.S. goods, causing the Dow to fall a whopping 562 points. In complete defiance of the market, Bitcoin hit a 9-month high of $8,203 the following day. Bitcoin started its climb as trade talks broke out between the U.S. and China, Mexico, and Canada, seeing its most significant gains as the negotiations reached a breaking point.

As Berry Silbert, CEO of Digital Currency Group, explained to Fortune, Bitcoin is building a track record of performing in times of crisis. “When ‘Brexit,’ happened, Bitcoin went up. When ‘Grexit’ happened, Bitcoin went up,” he said.

The pound slipped in April as Brexit talks reached another stalemate and E.U. negotiators warned a deal was not likely. Bitcoin, on the other hand, surged to a six-month high, hitting $5,000 for the first time since November.

While it’s nearly impossible to draw a direct correlation between events like Brexit to the price of Bitcoin, there are clear economic advantages to holding crypto. Different than gold, which in recent years has been held in large sums by banks, Bitcoin has not yet been fully embraced by financial institutions or governments, making it a better hedge against economic turmoil.

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