Carolyn Rogers – a senior deputy at the Bank of Canada (BOC) – recently dismissed the idea that cryptocurrencies It could be a hedge against inflation. referring to volatility which digital assets “Does not meet the test” of a stable source of payment or value.
Liberal MP Yvan Baker did.askOfficials on Monday said Could a digital currency like Bitcoin be an effective way for the average person to protect against inflation?
Canada’s inflation rate is the same as the United States. with a high trend in 30 years. The annual CPI of Marchmore 6.7%, similar to the US
“We do not see cryptocurrencies as a way for Canadians to choose as a hedge against inflation or as a source of stable value,” the official said.
Industry insiders often refer to Bitcoin as “digital gold” due to its limited supply of $21 million, and this will keep it unaffected by the devaluation caused by money printing. which is believed to be the main cause of inflation today.
But many are hesitant to think it is – especially ECB chairman Christine Lagarde, who insisted that Bitcoin is not a real currency, but is “highly speculative assetsMeanwhile, Fed chair Jerome Powell hasclaimthat Bitcoin is not a suitable place of value or a medium of exchange
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