USD is also up vs Bitcoin.
EDIT: Feel free to look at gold, silver, and other 'inflation hedges' while you're at it. The main thing going up is commodities (oil and food), which is certainly important. But there's more to the world than those two things.
Unless you are arguing we currently don't have any inflation, which would be a tough sell :)
Also this last CPI report oil & gas pulled inflation down whereas just about everything else pulled it up. Food is hot, but a lot of other things are as well including non-commodity service based industries.
This is what I'm arguing. Do you deny it?
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In a bear market, you don't have to outrun the bear to get ahead. You only have to outrun your friends.
A year or two from now Bitcoin very well might be back above it’s all time high.
Its ironically, also when BTC really began to collapse from its $60,000 high. So it really demonstrates how much the BTC was benefiting from low-interest rate / inflationary policies.
It's almost like it's not a hedge at all and just another part of the exact same game as the rest of the market.
CPI was nasty for most of June 2020 to June 2021. It's just that fewer publications were picking up the story yet.
Yeah, its up like 100% over Bitcoin and like +30% over Euro, Yen, and GBP? In fact, holding Cash/USD has been basically one of the best performing things in my entire portfolio this year (after oil/energy)
Have _you_ seen BTC's buying power recently?