pull down to refresh
69 sats \ 3 replies \ @sancristrader 14 Jul 2022 freebie \ on: Consumer Price Index Hits 9.1% bitcoin
Can someone explain to me why BTC and gold are dropping while the inflation is rising?
in the short-run, i can see how bitcoin is linked to risky assets and tends to trade in tandem with tech stocks when markets fall quickly.
in the long-run, i would be surprised to see bitcoin not respond to higher inflation with a higher price tag.
don’t forget, bitcoin is 2-4x higher than it was in early 2020, prior to the money-printing that caused this inflation.
when in doubt, zoom out.
reply
What about gold though? Gold is barely up if at all relative to 2020.
reply
Bitcoin is eating into it’s use case as a store of value, and will continue to over time.
I think gold’s performance in the next decade depends on how much of its market Bitcoin can eat, and how quickly that happens.
reply