Bitcoin Trades As An Inflation Hedge for the First Time Ever Due to Gold’s Disappointing Performance – Investing.com India
- Date: 11-Nov-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Bitcoin Trades As An Inflation Hedge for the First Time Ever Due to Gold’s Disappointing Performance – Investing.com India
Surpassing $69,000, Bitcoin hit a new all-time high on Wednesday as it traded as an inflation hedge.
“That was the first time ever BTC traded as an inflation hedge. Crypto natives have big pockets now and thus the ability to change narratives. Perception => Reality,” said trader and economist Alex Kruger.
The sharp move up that came after CPI data showed that US inflation rose to its highest annual rate in 30 years to 6.2% in October didn’t last for long, and Bitcoin soon dropped as low as $62,755.
Select Sector 
Select Country 
