Hedge or Cause? Unpacking Bitcoin and Inflation
— Digital gold, Bitcoin, Resistant, Unpacking, Digital, Mean bitcoin could, Price later, Idea, Crypto often says –, Moment — 1 min read
The idea of digital gold, or bitcoin being resistant to inflation rather than being swept up in it, was – as crypto often says – a “narrative.” That doesn't mean bitcoin could not appreciate in price later, especially if more people again see the value in owning a programmatically scarce digital asset. But, at this moment, the story might be that bitcoin caused inflation, and that's not the case for the first time since the start of the bitcoin market crash in 2009, but it could still be worth a lot of value in the near future if it comes back to value in digital currency. The story may be the story of bitcoin causing inflation, but that may not be the end of the boom in the market. Source