Bitcoin Still a Risk-Asset Despite Last Week’s Inflation-Led Rally, TradeFi Experts Say

Bitcoin Still a Risk-Asset Despite Last Week’s Inflation-Led Rally, TradeFi Experts Say
The “bitcoin is an inflation hedge” drumbeat is growing louder, as the cryptocurrency tapped fresh record highs near $69,000 last Wednesday, after the U.S. reported inflation at a three-decade high.That was perhaps the first time the decade-old cryptocurrency traded as a store of value asset in response to economic data bolstering fears of price pressures moving out of control. However, traditional finance experts are still not convinced about its growing acceptance as digital gold, a safe haven.“The crypto rally on high inflation is a hint on where it’s headed as an asset class, but the sharp, late-day drop underscores the…