Bitcoin May Be The Best Inflation Hedge Around, Cites 99.99% Deflation: Bloomberg

Bloomberg recently found that investors are protecting themselves from fears of rising inflation by using Bitcoin. In a tweet, the company even called it “the best inflation hedge around” depending on how one looks at it.
Bitcoin Beats Inflation
After crunching the numbers, Bloomberg Opinion’s John Authers found that Bitcoin has achieved 99.996% deflation over the past 10 years. What cost one Bitcoin in 2011 now costs just 0.004% of a Bitcoin today. Meanwhile, the CPI has risen 28% in dollars during that time.
Just days ago, Bitcoin surged to a new all-time following the release of US inflation numbers for October. Since last year, the CPI has risen by 6.2% across the country – the fastest rise since 1990. What’s more, when using the 1980’s measure for CPI, inflation has increased by closer to 15%.
Bloomberg’s economists estimate that roughly half of Bitcoin’s recent price surge has been driven by inflation fears. The other half is due to momentum trading:
“Our model

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