Wharton finance professor says Bitcoin (BTC), the world’s most valuable digital currency. has replaced gold This is a hedge against inflation for young investors.
Gold’s performance is “disappointing” in 2021, Jeremy Siegel, a professor of finance at the Wharton School. sayIn an interview with CNBC Squawk Box
BTC, on the other hand, is increasingly popular as a hedge against inflation among young investors, Siegel said.
“I think Bitcoin is an anti-inflation tool in the minds of many young investors. which replaced gold Digital coins have become the new gold for Gen Y.”
Siegel also cautioned that older generations saw gold spikes during the inflation of the 1970s, “but this time it was not in favor,” he added.
Gold emerged as an inflation hedge that failed to meet investor expectations in 2021, and isIt’s the worst year since 2015, with prices dropping around 5% and closing in on the annual price of $1,800. While Bitcoin, despite the huge price volatility in 2021, is up about 70% by the end of the year. 2021
Many prominent global investors are turning to BTC over gold in 2021, with Dallas Mavericks owner Mark Cuban calling Bitcoin “better than gold” in October 2021. Starwood Capital Group co-founder Barry Sternlicht also said that true. Well, gold is “worthless” and he is holding BTC because every government prints huge amounts of money.
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