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Bitcoin and the question of whether it is an ‘inflationary hedge’ just yet
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ambcrypto.comA few days ago, the United States Bureau of Labor Statistics released their numbers for the Consumer Price Index – Or in other words, the inflation rate. The report observed that the annual inflation rate in the U.S accelerated to 6.8% in the month of November 2021 – The highest since the June of 1982. This also marks the ninth consecutive month inflation has stayed above the Federal Reserve’s 2% target.
Now, it must be noted that this comes amid a global rally in commodity prices, rising demand, wage pressures, supply chain disruptions, and a low base effect from last year. All of these factors have contributed to pushing the prices up. Here’s how the scenario has been worsening since the beginning of this year.
Source: Tradingeconomics.com
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