Crypto community divided on whether Bitcoin is an inflation hedge

Crypto community divided on whether Bitcoin is an inflation hedge


Amid a massive spike of the United States’ Consumer Price Index (CPI), the cryptocurrency community has divided on whether Bitcoin (BTC) is really a hedge to inflation.

The CPI, an indicator measuring the average change in prices that consumers pay for a basket of goods and services, saw its largest one-month increase in June over the past 13 years, Business Insider reported Tuesday. The inflation surge reportedly started in March, when CPI rose by 2.6%, followed by subsequent increases in April of 4.2% and eventually 5.4% in June.

But despite the recent growth in CPI-measured inflation, Bitcoin has allegedly failed as an inflation hedge as its price has almost halved from $64,000 in mid-April, according to some analysts.

Interesting that as CPI #inflation has climbed from +1.4% y/y in January to 5.4% in June, #Bitcoin has essentially been cut in half
[Past performance is no guarantee of future results] pic.twitter.com/QIXeb2m5Vv

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— Liz Ann Sonders (@LizAnnSonders) July 13, 2021

“Bitcoin isn’t behaving like an inflation hedge

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