Crypto Weekly: 25 – 31 October 2021
Growing concerns regarding escalating inflation are acting as a catalyst in driving investors worldwide towards Bitcoin as more and more investors begin to view Bitcoin as the best hedge against inflation. Notably, Square and Twitter CEO Jack Dorsey has reiterated his belief that Bitcoin is the best asset to beat Hyper Inflation.
Additionally, billionaire hedge fund manager Paul Tudor Jones said this past Wednesday that he views cryptocurrency as a better hedge against inflation than gold. Jones revealed that he holds Crypto in his portfolio and has been investing in Bitcoin futures since 2019.
Similarly, renowned billionaire investor Carl Icahn has publicly criticized the excessive money printing by the FED and has warned that high inflation will lead to challenges in the long run. While neither Icahn nor his company invests in Bitcoin, he has stated that Bitcoin’s potential value remains solid, particularly in the face of soaring inflation.
