Abstract: After the financial crises, it is evident that Bitcoin has emerged to be the most successful crypto currency since its appearance back in 2009.The success can be attributed primarily to its security robustness, along with two main properties ie anonymity and decentralization. The robust network of decentralized payment transactions has attracted a lot of attention among ecommerce users. This paper investigates whether bitcoin as an investment asset offers diversification benefits,more specific whether bitcoin has hedge or safe haven properties. Bitcoin is a decentralized digital cryptographic currency which has gone through and still goes through spectacular developments leading to a lot of media but also academic attention