Why Bitcoin Could Serve As A Hedge Against Inflation?

Gold was the monetary index of the 19th century until it was replaced by an array of regional stock indexes in the 20th century. Bitcoin will be the primary monetary index of the 21st century

— Michael Saylor

A tweet made by the CEO of MicroStrategy Micheal Saylor reveals that Bitcoin is the new norm against inflation. While this could sound too good to be true, yet with the recent inflation statements made by the Federal Reserve Chairman Jeremy Powell concerning the nature of the US inflation data. It would be nice to predict the future outcome of the November rate hike meetings by the monetary policymakers, as the chairman himself revealed that the US inflation index is currently beyond the standard. In addition to the tweet from Michael Saylor, an unknown bird app user also add a fresh hit to back up the perception of crypto lovers in a tweet that quote “With Central Banks printing fiat currency regularly the moment in which the age of fiat currency will come to an end might be fast approaching” On a concise note this should raise a sense of urgency and call for immense attention to the digital currency speculators.

The Future Of Bitcoin

Since the inception of Bitcoin in 2009 and following the release of other Altcoins. Several cryptocurrency enthusiasts strongly hold to the belief that digital currencies are the future of money. However, the manifestation of this belief is almost approaching the limelight, as large-cap financial institutions, such as the likes of SEC approval of Bitcoin as an Exchange-traded Funds, and the El Salvador authorization of Bitcoin as the legal tender all summed up to the progress the Bitcoin market value is currently living on. On the other hand, a viral tweet made by coindesk claims that Walmart now has #Bitcoin ATMs installed at dozens of locations. With this serving as a positive motivation on the all-around strength of Bitcoin, in essence, the American giant multinational investment bank, JPMorgan also had a lightning pronouncement that “investors appear to be subsiding to Bitcoin” because they see it as a higher inflation hedge than gold.

Why Bitcoin Fell After Hitting A New All-Time At 67K

It's with no doubt that Bitcoin faces a correction in price, which leads to the erasing of a total of 5000 USD worth of BTC from its prevailing price that was at 67000 to a low weekly market low of 62K on Saturday. Although the unbalanced reactions that occurred to the value of Bitcoin after hitting the initial point of stardom were considered to be the effect of the gross delay in allocating the Bitcoin ETFs by the SEC. In response to the cause of this delay, it was reported that regulators are still on the outlook for substantial valuations before the permanent abduction of Bitcoin ETFs.