Bitcoin's Inflation-Hedging Promise in Tatters After Plunge
3 Articles
3 Articles
Bitcoin's Inflation-Hedging Promise in Tatters After Plunge
(Bloomberg) — Bitcoin has fallen 36% over the past year and slipped below $70,000 this week, extending a retreat that is undermining several of the arguments that helped carry the cryptocurrency into the financial mainstream.
Bitcoin’s Inflation-Hedging Promise in Tatters After 36% Plunge
Bitcoin has fallen 36% over the past year and slipped below $70,000 this week, extending a retreat that is undermining several of the arguments that helped carry the cryptocurrency into the financial mainstream.
[Digital Daily Reporter Jo Yoon-jung] As Bitcoin falls below the $67,000 mark, doubts are mounting regarding its function as an "inflation hedge," which was the core rationale for its inclusion as a major financial asset. With Bitcoin continuing its weakness even as concerns about rising prices resurface, assessments suggest that its status as "digital gold" is also wavering. According to CoinMarketCap at 11:45 AM on the 3rd (KST), Bitcoin is t…
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