Bitcoin may strengthen its status as a hedge against monetary debasement due to China’s plans for over $1.4 trillion in new debt, raising interest among traders.
Inflation news
Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.
Bitcoin price rallies as traders react to geopolitical and economic uncertainty, as the potential outcome of the upcoming US election.
According to the paper, central banks collectively hold $2.2 trillion in gold as of Q1 2024 and continue to expand their gold allocations.
Institutional adoption, US government overspending and future economic stimulus packages are just a few reasons why analysts believe Bitcoin price is on the path to $100,000.
The hedge fund veteran also suggests holding gold, commodities, and technology stocks.
The fund touts leveraged exposure to Bitcoin and gold as investors brace for inflation and geopolitical strife.
The crypto market is up today, following a bullish performance from US equities markets and increasing traders’ demand for crypto investment products.
Bitcoin appears to take a hot PPI print in its stride after a 4% BTC price recovery.
Consumer prices in the US rose by 2.4% in September, above market expectations but still in a negative trend compared to the past few years.