Bitcoin Is More Than an Inflation Hedge
Credit: Tribalium/Shutterstock
Bitcoin Is More Than an Inflation Hedge
While fears of a “great monetary inflation” have driven the recent bitcoin narrative, other aspects like censorship resistance and peaceful protest matter just as much.
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Bitstamp and Ciphertrace.
Today on the Brief:
- Why bitcoin sold off
- A bank-the-unbanked narrative for the digital dollar
- It’s Dave Portnoy’s world and we’re all just living in it
Today’s main topic: Why inflation isn’t the only bitcoin narrative that matters.
When bitcoin’s halving coincided with the most aggressive central bank policy of all time, it set a clear narrative framework for bitcoin as an inflationary hedge. This was captured by people like legendary hedge fund investor Paul Tudor Jones, who warned of a “great monetary inflation.”
In this episode, NLW argues 1) that inflation could be a dangerous narrative to focus on too closely due to a number of countervailing deflationary forces, and 2) there are a variety of other narratives that are just as important to bitcoin, including:
- Censorship resistance
- Seizure-resistant asset
- Currency controls and reshoring
- Nations looking to escape USD system
- Independent banking
- Peaceful protest
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
