When A Pair Of Sneakers Sells For Almost $2 Million, Can Inflation Be Far Behind?

When A Pair Of Sneakers Sells For Almost $2 Million, Can Inflation Be Far Behind?

Share to Linkedin The prototype Nike Air Yeezy 1s worn by Kanye West during at the Grammy Awards in 2008 were ... [+] purchased by an investment firm for $1. 8 million. Is that a sign of asset inflation? Bitcoin is regularly trading at over $50, 000. A pair of Kanye West's Nike Air Yeezy 1 sneakers was snapped up for $1. 8 million. Christie's sold an NFT (non-fungible token) in the form of a video by the digital artist Beeple for $69 million at auction. These are just a few of the eyebrow-raising headlines that indicate extreme levels of optimism about the economy. While many investors who are anxiously buying into Bitcoin probably can't explain what they are actually investing in, it looks likes cryptocurrencies have to be taken seriously. S&P Dow Jones has just launched three new indexes—S&P Bitcoin Index, S&P Ethereum Index, and S&P Crypto Mega Cap Index—with the promise to add other coins later this year. And there's a good chance that the SEC will approve the first Bitcoin ETF in June. The $1. 8 million sneakers are another story altogether. Kanye West's shoes weren't bought by a hero-worshipping fan but rather by the investment firm