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