Finance Professor of University of Pennsylvania says bitcoin is an inflation hedge
Jeremy Siegel shared his stance on Bitcoin and increasing inflation in the World and described Bitcoin as a hedge against inflation.
In the last few months, the majority of the experts shared their stance on the crypto and Bitcoin industry. The majority of the people said that increasing prices in crypto assets or Bitcoin are just part of inflation in the global economy.
In the latest, Jeremy Siegel appeared in an interview with CNBC Friday. Through the interview, Jeremy appreciated Bitcoin in such a dramatic situation of the global economy.
Jeremy Siegel is Russell E. Palmer Professor Emeritus of Finance at Wharton School, University of Pennsylvania. He is popularly known to research the financial ecosystem and long-running assets in the ecosystem of the financial economy.
Jeremy was questioned about what he will say about the bad performance of gold-like assets. Then Jeremy explained that the young generation is giving regard to bitcoin as the best replacement over gold.
Professor said:
“Let’s face the fact, I think bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold … Digital coins are the new gold for the millennials”
Professor also notes that in the 1970s there was a time for gold but now gold is no longer a better option in the current situation. Now Bitcoin will soar against other assets.
Professor emphasized that he is warning about the increasing inflation over the last one and a half years. And also said that he raised voice about it on multiple occasions.
“The Fed is going to have to hike many more times than what the market expects.”
Robert Kiyosaki on Inflation & Bitcoin
Popular author and writer of Rich Dad Poor Dad Book, Robert Kiyosaki is also popularly known as the best expert on inflation and best-performing assets.
In the last few months, he suggested to his followers to go with Gold, Bitcoin, silver-like assets. And also once he tweeted that he does trust Fed Res anymore.
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