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Need An Inflation Hedge? Bitcoin Has Delivered 99.996% Deflation
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ndtv.comOn Wednesday, U.S. inflation data come in much hotter-than-expected. Almost immediately after the number hit the wires, Bitcoin notched a record high. Coincidence?
To many, it's not so much a chance happening as something they'd been predicting for a long time now -- that the world's largest digital asset makes for a great hedge against rising prices in the economy.
Here's the gist of the argument: unlike dollars or any other traditional currency, the digital coin is designed to have a limited supply, so it can't be devalued by a government or a central bank distributing too much of it.
One way to test the thesis is to plot U.S. prices against Bitcoin. Bloomberg Opinion's John Authers has done the math: Over the last decade, the headline
Read more on ndtv.comAbout this in other media
El Salvador To Build World's 1st "Bitcoin City" With Money From $1 Billion Bitcoin-Backed Bond ndtv.com /2 years ago
El Salvador: Adopting ‘junk-grade’ Bitcoin bond will have these repercussions ambcrypto.com /2 years ago
El Salvador plans first 'Bitcoin City', backed by bitcoin bonds economictimes.indiatimes.com /2 years ago
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