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WebsCrypto—News—Bitcoin Is Losing Its Appeal as a Potential Inflation Hedge
News

Bitcoin Is Losing Its Appeal as a Potential Inflation Hedge

By WebsCryptoSeptember 14, 20221 Min Read
Bitcoin Is Losing Its Appeal as a Potential Inflation Hedge
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Bitcoin is losing its appeal as a potential inflation hedge for investors.

In countries with the worst currency devaluations, such as Japan, the dollar has gained more than 20 percent against the yen since the beginning of the year, and bitcoin has lost 35 percent of its value, said Daniel Kostecki, a currency trader at Conotoxia.

Against the Korean won, the dollar has appreciated 15% since the beginning of the year, while the BTC/KRW exchange rate has fallen by more than 40% in that time.

Even gold cannot fight current inflation trends, Kostecki added.

Related:  Investment Firm Ark Invest Believes in the Future of Bitcoin and Predicts a Multitrillion-Dollar Market
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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