Inflation spikes in Europe: What do Bitcoiners, politicians and financial experts think?
Rising prices are grabbing headlines all over the world. Across the pond in the United States, inflation recently broke a 40-year record. The situation is severe in Europe, with prices rising over 5% across the Eurozone and 4.9% in the United Kingdom.
While prices rise, Bitcoin (BTC) is flatlining at around $39,000. It poses many questions: Is Bitcoin an effective hedge against rising prices, what role can Bitcoin play in a high inflation environment and did Bitcoiners know that inflation was coming?
Experts from the world of Bitcoin, finance and even European politics responded to these questions, sharing their views with Cointelegraph about the alarming price rises in Europe.
From data analysts Kaiko’s monthly report, the Bitcoin price marched ahead of inflation, implying that Bitcoiners may have foreseen a rise in prices and stacked sats to hedge against inflation.
Danny Scott, CEO of the U.K.’s leading Bitcoin exchange CoinCorner, backs this argument. He is not “surprised at the inflation levels we are seeing around the world.”
Another Bitcoiner, this time a member of parliament, is again “not surprised” by inflation running hot. The Belgian key opinion leader, Christophe De Beukelaer, was the first European politician to take his salary in Bitcoin.
He told Cointelegraph that “when we inject trillions, as we have done, at some point you have to pay the bill.” But, it doesn’t just take a financial toll, “people don‘t see it and don‘t realize it, but inflation has a major impact on their well-being.”
Nicolas Bertrand, a Global Blockchain Business Council ambassador and financial executive hailing from Borsa Italia and the London Stock Exchange, told Cointelegraph:
For De Beukelaer, however, he reckons that “at some point,
Read more on cointelegraph.com
