2 years ago
Quick take:
- Microstrategy CEO has warned that ostentation mightiness beryllium worse than we deliberation and that Bitcoin is amended than we know
- Michael Saylor’s comments travel aft CPI information for March showed that ostentation successful the US was astatine 8.5%
- 8.5% is the highest summation successful yearly ostentation since 1981 (41 years)
- Bitcoin’s existent ostentation complaint stands astatine 1.7%
- Bitcoin continues to beryllium a hedge against inflation
Microstrategy CEO and Bitcoin permabull Michael Saylor has warned that the authorities of ostentation is worse than we think. He besides added that Bitcoin mightiness beryllium the solution to hedge against the said inflation. Mr. Saylor shared his investigation connected ostentation and Bitcoin via the pursuing tweet.
#Inflation is worse than you think, and #Bitcoin is amended than you know.
— Michael Saylor⚡️ (@saylor) April 12, 2022
March CPI Data Shows an 8.5% Increment successful Inflation successful the United States
Mr. Saylor’s comments connected the authorities of ostentation were made moments aft it was announced that March’s Consumer Price Index successful the United States was astatine 8.5%. This is the highest yearly summation successful the CPI successful the US since December 1981.
According to CNBC, March’s CPI information was a percent constituent supra estimates, and existent net (6.5% higher from a twelvemonth ago) were not keeping gait with the outgo of living. The deficiency of wages keeping up with the outgo of leaving could proceed to worsen the fiscal load connected Americans.
Bitcoin’s Inflation Rate Currently Stands astatine 1.7%
At the aforesaid time, the Co-founder and Chief Technology Officer astatine Glassnode, Rafael Schultze-Kraft, retweeted an investigation helium shared mid-last period that shows that Bitcoin’s existent ostentation complaint stands astatine 1.7%. According to his research, Bitcoin’s ostentation complaint ‘continues to travel its preprogrammed, afloat predictable downwards trajectory’.
BREAKING: #Bitcoin ostentation complaint presently sitting astatine 1.7%, continues to travel its preprogrammed, afloat predictable downwards trajectory. pic.twitter.com/Ga8PCvf6dd
— Rafael Schultze-Kraft (@n3ocortex) March 10, 2022
Bitcoin Continues to Prove it is the Best Hedge Against Inflation
His investigation of a BTC ostentation complaint of 1.7% is impervious that Bitcoin is the champion hedge against inflation, fixed that the existent yearly ostentation successful the United States astatine 8.5% is the highest it has been successful implicit 40 years.
Concerning the price, Bitcoin is attempting to person the $40k terms country into enactment aft mounting a section debased of $39,200 precocious yesterday. Since precocious March, the King of Crypto has been connected a downward inclination aft hitting the $48k absorption zone. Bitcoin’s weakness successful the markets tin beryllium attributed to an precocious ‘market feeling’ that the CPI information would be high for the period of March.
Bitcoin bulls are present tasked with defending the $39k to $40k enactment level failure, which mightiness unfastened the doors to $37k oregon little earlier April comes to a close.
[Feature representation courtesy of Michael Saylor]
English (US) 