Express

Chainalysis: Data Doesn’t Show Bitcoin as an Inflation Hedge at Present

Amy Liu

Summary: Data from blockchain analytics firm Chainalysis suggests that Bitcoin (BTC) may not be the hedge against inflation that many seem to believe it is. “Right now, we can't show a statistically significant correlation between inflation in the US and Bitcoin prices, but we know anecdotally that many people invest in Bitcoin as a hedge against ...

Data from blockchain analytics firm Chainalysis suggests that Bitcoin (BTC) may not be the hedge against inflation that many seem to believe it is.

“Right now, we can't show a statistically significant correlation between inflation in the US and Bitcoin prices, but we know anecdotally that many people invest in Bitcoin as a hedge against inflation,”  said Kim Grauer, Chainalysis’ head of research.

“We also know that in other countries that suffer from more severe currency inflation or devaluation like Venezuela and Nigeria, people use cryptocurrencies as a store of value,” Grauer added.

By Amy Liu

Last Update:

Tags: ,,
Link: Chainalysis: Data Doesn’t Show Bitcoin as an Inflation Hedge at Present   [Copy]
Next:

Related Articles

  • Bitcoin Surges to New Highs, Momentum Points to Further Gains 2 days ago
  • Circle Intensifies Stablecoin Push with Key Exchange Partnerships 3 days ago
  • Trump's "Big and Beautiful" Bill Passes: Biden and Harris Criticize, Financial Expert O... 8 days ago
  • Silicon Valley Giants, Trump Ally Launch 'Crypto Bank' Erebor, Aiming to Fill SVB Void 10 days ago
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 15 days ago

    • You need to login to comment.