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Crypto community divided on whether Bitcoin is an inflation hedge

Published 07/14/2021, 07:57 AM
Updated 07/14/2021, 09:00 PM
Crypto community divided on whether Bitcoin is an inflation hedge
BTC/USD
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Amid a massive spike of the United States’ Consumer Price Index (CPI), the cryptocurrency community has been divided on whether Bitcoin (BTC) is really a hedge to inflation.

The CPI, an indicator measuring the average change in prices that consumers pay for a basket of goods and services, saw its largest one-month increase in June over the past 13 years, Business Insider reported Tuesday. The inflation surge reportedly started in March, when CPI rose by 2.6%, followed by subsequent increases in April of 4.2% and eventually 5.4% in June.

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