As Bitcoin celebrates all time highs, it’s time for a dose of cold water. Bitcoin maxis like to tell tales of 1 Bitcoin being all you need to secure generational wealth, and its sound monetary policy making it a perfect hedge against inflation.
For starters, there’s not a ton of statistical evidence for any relation between BTC price and inflation moves. Back when we had more time to run such in-depth statistical analyses we covered this in depth. Little has particularly changed. While inflation soared since we published this, bitcoin went up a lot, but it also went down a lot, so statistically it stayed a bit of a wash. No particular correlation.
That said, we do believe in the short term, Bitcoin and other cryptocurrencies are your only hope. Dollars are becoming worthless at an eye-popping rate, so you have no choice but to put them into moonshots: cryptocurrencies, stocks, property. They’re necessarily Hail Mary plays. Unfortunately with the present misapplication of MMT debasing the collar, doing nothing isn’t an option.
Frens, we’re sad to say that nothing will make you safe in the long term. Nothing lasts…