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Can Crypto Beat Gold as an Inflation Hedge?
Posted
January 14, 2022
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385
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January 14, 2022
385
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3.64%
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5:53Now PlayingBitcoin climbed above $44,000 for the first time in a week as the most U.S. inflation in four decades revives the debate about whether the cryptocurrency is a hedge against rising consumer prices.
The largest digital asset by market value rose as much as 3.3% to $44,085 Wednesday, following the release of the consumer price index, which climbed 7% in 2021. That means inflation in the U.S. registered its biggest annual gain since 1982. Some market participants had speculated that the increase would be higher, helping to send other so-called risk assets such as stock higher.
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