Jeremy Siegel, professor of finance at the Wharton School at the University of Pennsylvania, said bitcoin was the “new gold” for millennials while warning about inflation and the Fed’s rate hike.
Demography, financial markets, long-term asset returns and macroeconomics Siegel, who conducts research on Friday, December 31 day to CNBC In his interview, he shared his views on various markets that should be followed closely by investors this year.
As a long-term investment gold and commodities For questions about gold is disappointing stated professor, bitcoin of the younger generation alternative to gold aspect He stressed that he saw
I think we have to face the fact that bitcoin is replacing gold for hedging inflation for young investors… Digital currencies are now the new gold for millennials.
said. The professor said that gold appreciated in the inflation in the 70s, which the elderly remember, but today it is no longer. that gold is not a favorite asset to hedge against inflation told.
Stating that he has expressed his concerns about inflation many times, the professor said, “I have been saying this for a long time. I have been warning about inflation for a year and a half.” said. Siegel’s statements on inflation;
The FED and the financial authorities, especially the FED, went to extremes in liquidity. They’re so behind the inflation curve that there’s a lot of inflation embedded in them. For this reason, the Fed will have to increase interest rates more than the market expects.
Complete with expressions.