If inflation is taking a deeper hold on the global economy, could Bitcoin become less a speculative tool and more a safe haven?
Is the global economy in uncharted territory now vis-a-vis Bitcoin (BTC) and inflation? During most of the cryptocurrency’s brief life, the economic environment has been generally pro-growth with stable prices but recently, there are fresh warnings of an inflationary storm. If so, what does it mean for Bitcoin, long promoted by partisans as an inflation hedge though not really tested in this way since its 2009 founding? That is, will millions of individuals and institutions flock to BTC as a safe haven — an alternative to gold or the United States dollar?Recent reports, like the 6.2% October rise in the consumer price index (CPI) of the United States — a 30-year record — were sobering, though this recent bulge in a single national economy might be more related to ongoing supply-chain snarls
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