• Bitcoin bulls have long claimed the cryptocurrency is an inflation hedge. But recent price swings have challenged that idea

    28 days ago - By Business Insider

    R.Tsubin/Getty Images
    Bitcoin bulls have long argued that the cryptocurrency is a hedge against inflation, particularly because of its fixed supply.
    But bitcoin tanked this past week after stronger-than-expected inflation data when it theoretically should've gained.
    We spoke to one bitcoin expert who isn't concerned about bitcoin's recent downward movement - and who said it's still undervalued as an inflation hedge.
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    Fears of rising inflation came to a head on Wednesday when key data came in significantly higher than...
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  • Bitcoin bulls have long claimed the cryptocurrency is an inflation hedge. But recent price swings have challenged that idea

    Bitcoin bulls have long claimed the cryptocurrency is an inflation hedge. But recent price swings have challenged that idea

    28 days ago - By Business Insider

    Summary List Placement Fears of rising inflation came to a head on Wednesday when key data came in significantly higher than economists expected. Bitcoin, touted by some of its biggest supporters as an inflation hedge - because it has a finite supply, unlike the dollar - didn't rise in response. It instead slumped around 7% on the day.
    Headline inflation data as measured by the Consumer Price Index rose 4.2% year-over-year in April, the fastest rate since 2008, while core inflation rose 0.9% in the largest monthly increase for the core index since 1982. The Dow shed nearly 700 points...
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