Re: Inflation soaring in US and other countries gives good prospect to bitcoin
I can only say that I already feel inflation on my skin, I notice every day that prices are going up, and that new prices are being announced when it comes to gas, water, electricity, but also food. Of course, the pandemic and all the measures taken in this regard are the main cause, but the major climate changes that have caused reduced food production around the world should also be taken into account.
But here is the bill: Soaring inflation, happily accepted by governments in Europe and mainly in US: 5% YoY in August.
This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
Inflation is here. Just take a look at this statista chart:
Inflation is climbing up, and you can see inflation is above 5% YoY for 3 months already!! This is a bit alarming imo. Inflation are basically taxes, and the population is going to pay for that.
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Bitcoin may be a good hedge against inflation, but one should never forget how volatile it is.
I agree. Bitcoin shouldn't be your first line of defense against inflation. I believe stocks (ETF) and REITS and gold are more suitable for that.
Bitcoin is important to defend yourself against hyperinflation, and it is an easy choice in countries like Brazil or some other in Latin America, where we have 5-10% inflation per year since forever.