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    Blocktoq»Crypto News»Will Bitcoin protect your savings from inflation?
    Crypto News

    Will Bitcoin protect your savings from inflation?

    Blocktoq TeamBy Blocktoq Team18 November 2021Updated:19 November 2021No Comments3 Mins Read
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    Recently, a record increase in inflation has been recorded – both in Poland and in the USA. In Poland, inflation is close to 7%, in the USA it is 6.2%. Inflation reduces the purchasing power of money. In other words, we can buy less and less for the same amount of money. Why is this happening? What can we do to protect our savings?

    In short:

    • Widespread riserise
    • Bitcoin as a defensive shield?
      • ATH and inflation
    • Why is BTC not affected by inflation?

    Widespread riserise

    in prices Probably all of us feel thein prices. The prices of consumer goods and services are rising tremendously. And analysts predict that it will be even worse next year. The increase in the price of gasoline is particularly noticeable, which causes increases in other products.

    Unfortunately, this is not the only downside related to inflation. The money kept in the account that we have put aside for years is starting to depreciate more than it used to.

    Bitcoin as a defensive shield?

    Many people wonder how to protect savings against inflation. The ideas include real estate, gold, silver and cryptocurrencies. More and more people are convinced of the latter, supplementing their investment portfolio with crypto. This is a good way to diversify your portfolio.

    Many analysts note that as inflation hits historic highs, bitcoin hits a deflation of 99.9996% over a decade. For many investors, BTC has become a kind of safe haven. Bitcoin not only protects against inflation, but also brings big profits.

    ATH and inflation

    Economists at Blooomerg and JP Morgan see a link between rising inflation and cryptocurrency prices. Concerns about inflation caused an influx of investors to the crypto market, as well as their record prices.

    Why is BTC not affected by inflation?

    Banks can produce a government-imposed amount of money that is also dependent on interest rates. If interest rates remain low for an extended period of time, citizens are more likely to get into debt and banks are more likely to print money.

    The COVID pandemic saw interest rates cut to boost the economy. Unfortunately, this is only a temporary solution as the money that is printed has no real-world coverage. This translates into an increase in inflation.

    How is Bitcoin? First, it is decentralized, ie the authorities cannot manipulate its price. Moreover, Bitcoin has a limited supply. There will never be more than 21 million BTC and currently 19 million have already been mined. It also has production limitations, the more BTC the harder it is to extract.

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    Crypto News

    Will Bitcoin protect your savings from inflation?

    By Blocktoq Team18 November 20210

    Recently, a record increase in inflation has been recorded – both in Poland and in the USA. In Poland, inflation is close to 7%, in the USA it is 6.2%.

    How to create nft art?

    12 November 2021

    USA – the top destination for bitcoin miners. Why China gave away the title?

    11 November 2021

    Solana, the man(ETH)er

    3 November 2021

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