BREAKDOWN: Bitcoin Is More Than an Inflation Hedge

While fears of a “great monetary inflation” have driven the recent bitcoin narrative, other aspects like censorship resistance and peaceful protest matter just as much.

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While fears of a “great monetary inflation” have driven the recent bitcoin narrative, other aspects like censorship resistance and peaceful protest matter just as much.

This episode is sponsored by Bitstamp and Ciphertrace.

Today on the Brief:

  • Why bitcoin sold off
  • A bank-the-unbanked narrative for the digital dollar
  • It’s Dave Portnoy’s world and we’re all just living in it

Today’s main topic: Why inflation isn’t the only bitcoin narrative that matters.

When bitcoin’s halving coincided with the most aggressive central bank policy of all time, it set a clear narrative framework for bitcoin as an inflationary hedge. This was captured by people like legendary hedge fund investor Paul Tudor Jones, who warned of a “great monetary inflation.”

In this episode, NLW argues 1) that inflation could be a dangerous narrative to focus on too closely due to a number of countervailing deflationary forces, and 2) there are a variety of other narratives that are just as important to bitcoin, including:

  • Censorship resistance
  • Seizure-resistant asset
  • Currency controls and reshoring
  • Nations looking to escape USD system
  • Independent banking
  • Peaceful protest