Investors Take Refuge In Bitcoin As Inflation Rises

Inflation rates have been rising for some time now. This is attributed to the indiscriminate printing of fiat money by the Fed and has been a growing concern to investors, especially those investing for the long term. United States inflation rates have now risen to 7% as Biden’s administration continues to be rocked by inflation concerns. This high growth rate has led investors to look for ways to hedge for inflation. Now, gold has always been the standard inflation hedge. It has dominated the market for decades, and for thousands of years of human civilization, it has been the agreed-upon store of value. However, investors have begun to flee gold as its returns have dropped significantly below the inflation rate, making it an unsuitable hedge. Inflation Rates Skyrocket Express reported that inflation rates have now outpaced wages in recent times. This has been a growing trend and has now come to a head with US inflation rates clocking 7%. Former US presidential candidate Bernie Sanders had expressed concern for this rate which he said has seen younger generations having a lower standard of living compared to the older generations. Related Reading | Bullish For Bitcoin: US Inflation Expectation Breaks Out From Decade Long Downtrend Sanders noted that inflation had driven the prices of housing and cost of college higher by 72% and 163% respectively compared to 20 years ago. This was unacceptable for the American politician...