Wharton professor Jeremy Siegel believes there is a prominent asset for many young people as inflation protection: bitcoin.
“Let’s face reality, it’s like an inflation hedge in the minds of most young investors,” the famous professor told CNBC last Friday. bitcoin replaced gold,” he said.
“Digital coins are the new gold for millennials.”
As prices for goods and services continue to rise, determining the best hedge has become a point of contention among investors. Especially bitcoin and gold in a race in this regard. Bitcoin’s limited supply of 21 million tokens has made the asset attractive as a hedge.
as Anthony Scaramucci bitcoin While proponents tout the asset as an inflation hedge, some argue that Bitcoin needs more time to prove this narrative.
However, in 2021, while inflation broke the records of recent years in many countries, bitcoin rose more than 60% last year, but gold It fell 5%, recording its worst year since 2015.
According to Siegel, the famous author of the investment book “Long-Term Stocks,” this decline goldIt is an indication of how the economy can no longer recover in an inflationary environment like it did in the 1970s. “This time is not in favor,” the professor told CNBC, adding that he still thinks the precious metal is a good investment.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.