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Bitcoin still needs ‘this’ to strengthen its inflation hedge narrative
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Bitcoin, after facing a rather dramatic week, registered a quick comeback on the charts and was trading at $65,909, at press time. Over the past year, the crypto has recorded 311.43% ROI v. USD for its HODLers. In fact, despite the price consolidation, bearish months, and many FUDs, BTC’s narrative as an inflation hedge seems to be only growing.
So, is Bitcoin the inflation hedge that could save the day? Well, this question seems more relevant now than ever. The reason? The U.S government’s announcement that its consumer price index has soared by 6.2% from a year ago – The biggest 12-month jump since 1990.
Soon after the announcement, stock futures dropped while bond yields increased sharply. On the other hand, Gold, which has held the
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