Business
Is Bitcoin (CRYPTO:BTC) the answer to ASX investors’ inflation worries?
The Bitcoin (CRYPTO: BTC) price stands at US$56,528 (AU$73,413) at the time of writing. That’s down 3.4% over the past 24 hours but still up a tidy 94% so far in 2021, according to Bitcoin price data from CoinDesk.
That data also tells me US$55 billion worth of Bitcoin has been traded during the last 24 hours. With a market cap of US$1.06 trillion, Bitcoin remains the largest cryptocurrency in existence.
Can Bitcoin serve as an inflation hedge for ASX investors?
Long absent, inflation fears have been rising as the yields of global benchmarks, like 10-year US Treasury notes, have ramped up to pre-pandemic levels.
ASX…
-
General23 hours agoMitchell Starc fires Ashes warning in Sheffield Shield return as Jake Weatherald and Beau Webster fail to fire
-
General23 hours agoNampijinpa Price pulls out of Put Australia First rally appearance with far-right activist Tommy Robinson
-
General22 hours agoGlobal humanitarian Alison Thompson awarded 2026 Australian of the Year for NSW
-
Noosa News22 hours agoRecognition for outstanding teacher | Noosa Today