Opinion
Why gold is still a better inflation hedge than bitcoin
Scarcity does not in itself give a thing value. Bitcoin needs more active investors, it needs a deeper and more liquid market and it needs wider acceptance. My go-to inflation hedge will remain gold for the simple reason it isn’t new.
Merryn Somerset WebbThe price of bitcoin has soared eightfold since March. It was $US5000 a coin then. It was over $US40,000 last week.
It is one of the best performing things you could have held since the pandemic began. That will have felt great for its early adopters. But it now leaves pretty much everyone in the markets in something of a quandary.
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