Bitcoin: Liquidity Measure, Not an Inflation Hedge

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The Relationship Between Bitcoin and Inflation

NYDIG data reveals that the Bitcoin price is not strongly correlated with inflation. This challenges the current narrative that Bitcoin provides a reliable hedge against inflation.

The Relationship Between Gold and Inflation

Traditionally viewed as a hedge against inflation, gold often demonstrates inconsistent and frequently negative relationships with inflation. Both Bitcoin and gold are more influenced by real interest rates and money supply.

Bitcoin and Real Interest Rates

Particularly, as Bitcoin becomes more integrated into the financial system, it has begun to show an inverse relationship with real interest rates. This is a development that enhances the importance of Bitcoin as a measure of liquidity.

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Bitcoin, inflation, NYDIG, gold, liquidity, real interest rate