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Short answer...NO...in spite of what those flogging its purchase over the last couple of years have been, and still are, proclaiming (and with a straight face, too).
Take a look at the following weekly chart of Bitcoin and compare its price moves (peaks and valleys) with that of the 20-year 12-month Percentage Change, CPI graphic below (measuring inflation of goods and services).
While CPI has continued to rise since January of 2021 and hit a 12-month percentage increase of 7% in December 2021 (a 20-year high), Bitcoin has lost almost all of its gains made (twice) from January 2021, onward.
So...NO...Bitcoin is not a reliable hedge against inflation...case closed.
These graphics proved my point.
I've written numerous articles about Bitcoin over the last several years and you can find them this link.
Some of you may remember the crypto winter of 2018. Bitcoin crashed 25% in January of that year, while Ethereum saw three straight months of double-digit losses. Even though...
This article was written exclusively for Investing.comLooking great on rallies and awful on dips Cryptos lack historical perspective and identity Speculators are on the...
The U.K could become the first country to provide a legislative framework for fiat-pegged crypto assets specifically. Key Takeaways Her Majesty’s Treasury has confirmed plans...
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