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Need an inflation hedge? Bitcoin has delivered 99.996% deflation
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business-standard.comOn Wednesday, U.S. inflation data come in much hotter-than-expected. Almost immediately after the number hit the wires, Bitcoin notched a record high. Coincidence?
To many, it’s not so much a chance happening as something they’d been predicting for a long time now -- that the world’s largest digital asset makes for a great hedge against rising prices in the economy.
Here’s the gist of the argument: unlike dollars or any other traditional currency, the digital coin is designed to have a limited supply, so it can’t be devalued by a government or a central bank distributing too much of it.
One way to test the thesis is to plot U.S. prices against Bitcoin. Bloomberg Opinion’s John Authers has done the math: Over the last decade, the headline
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