Bitcoin Is Failing Its First Inflation Test as Selloff Deepens

bitcoin is failing its first inflation test as selloff deepens

Sumary of Bitcoin Is Failing Its First Inflation Test as Selloff Deepens:

  • Their argument hadn’t previously been tested, however, because inflation has largely been under the Federal Reserve’s 2% target since bitcoin’s 2009 launch.
  • Many investors have largely dismissed the gains in inflation, seeing them as skewed by short-term supply disruptions related to the reopening of the economy.
  • Federal Reserve Chairman Jerome Powell and other policy makers have also maintained that they expect such gains to be transitory.
  • “It’s just like buying a lottery ticket,” said Leonard Kostovetsky, an assistant professor of economics at Boston College Carroll School of Management, of bitcoin.

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