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Are Bitcoin’s record prices sign that inflation is not going away anytime soon
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The coronavirus pandemic and resultant economic shutdown have led to worries of inflation spurring up around the world. However, it has also led to a rise in the adoption and acceptance of Bitcoin. Many believe Bitcoin is a superior hedge against inflation when compared with traditional assets like gold.
With inflation levels and bitcoin prices rising in almost tandem, some have begun to notice a connection between the two. Peter Thiel, who is a Bitcoin maximalist and CEO of payments giant Paypal, recently suggested that Bitcoin’s record prices might be indicating that the current inflation might last for a long time.
According to a Bloomberg report, the billionaire opined that several cryptocurrencies, including Bitcoin, recently reaching
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