Bitcoin Is The Next Gold For Millennials - Wharton Finance Experts Claim.

Bitcoin Is The Next Gold For Millennials – Wharton Finance Experts Claim.

2022-02-14 | Daniel Smith

Bitcoin Is The Next Gold For Millennials – Wharton Finance Experts Claim.

Bitcoin Is The Next Gold For Millennials – Wharton Finance Experts Claim.

January 4, 2022 | Daniel Smith

bitcoin_gold

Wharton’s finance professor claims that Bitcoin (BTC), has superseded gold as an inflation hedge for young investors.

Wharton School finance professor Jeremy Siegel stated in a CNBC Squawk Box broadcast on Friday that gold’s record in 2021 was “disheartening.”

BTC, on the opposite end, is becoming more popular amongst youthful traders like an inflation hedge.

Siegel also recalled how previous people saw gold skyrocket throughout the 1970s inflation. “This time around, it’s not to our advantage,” he continued.

Gold, which has typically evolved as an asset class that provides a buffer versus inflation, struggled to match investors’ hopes in 2021, having its poorest year after 2015 and falling by approximately 5% to conclude the year at $1,800. Notwithstanding enormous price volatility during 2021, BTC had increased by roughly 70% by the conclusion of the year.

Numerous notable worldwide investors backed BTC above gold in 2021, with Dallas Mavericks owner Mark Cuban claiming Bitcoin will be “superior to gold” in October 2021. Barry Sternlicht, co-founder of Starwood Capital Group, also stated that gold is “pointless” adding that he is keeping BTC since each state is producing large quantities of money.

Regardless of the fact that Bitcoin is emerging as a more attractive asset compared to gold, several financial and crypto analysts claim it has still to show its inflation hedge status.

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