Data from the blockchain analysis company Chainalysis shows that Bitcoin (Bitcoin) maybe not Hedge against inflation so many Seems to believe it is.
Kim Grauer, head of research at Chainalysis, told Cointelegraph: “At present, we cannot prove that there is a statistically significant correlation between U.S. inflation and Bitcoin prices, but we know that many people invest in Bitcoin to hedge against inflation.” On August 31, When asked about her views on current inflation in the United States and its impact on Bitcoin.
Inflation in the United States has been a hot topic in the past year or two.As early as June, the report showed that the inflation rate in the United States reached A level not seen in more than a decade.
Inflation rates in other countries are much worse than those in the United States. For example, Venezuela’s inflation rate in 2019 was 10,000,000%. Interest in digital assets Synchronous growth.
“We also know that in other countries such as Venezuela and Nigeria that suffer from more severe currency inflation or devaluation, people use cryptocurrency as a store of value,” Grauer added.
Bitcoin often Described as a store of value assets In the crypto industry, although events such as Prices plummeted in early 2021 Logically, this narrative is problematic.