Bitcoin was supposed to hedge against inflation—here's why it hasn't worked that way
— Worked, Supposed, Store, Times, Inflation, Price, Hedge, Bitcoin, Asset, Money — 1 min read
Bitcoin has plunged in value this year, weakening the argument that it can be an effective hedge against inflation. Bitcoin advocates have long argued that its scarcity would protect its value during times of rising inflation. As of Friday, the price of bitcoin is $21,833, according to Coin Metrics. Experts say cryptocurrencies like bitcoin are "not proven" to be a reliable, long-term store of value. They could still gain acceptance over time and become less volatile, says Omid Malekan, an adjunct professor at Columbia Business School. But "we just don't know yet, until we see more of a track history with it," says Anjali Jariwala, a certified financial planner and founder of Fit Advisors. Source