CPI inflation data reached a 40-year high of 9.1% in June with the largest price increases occurring in the energy sector, seeing fuel and oil rising almost 100%.
Bitcoin’s consistent issuance schedule makes it a consistent asset in times of inconsistent monetary policy. It will outlast any of the Federal Reserve’s plans.
With the Bank of Japan trying yield curve control, negative GDP growth in the United States and cracks showing in the eurozone, bitcoin looks like a smart bet.
The long-standing claim that bitcoin is a hedge against inflation has come to a fork in the road as inflation is soaring, but the bitcoin price is not.
Custodia’s lawsuit states “unlawful” delays in the bank’s approval process to gain a master account with the Federal Reserve which would lessen cost and risks.
The St. Louis Federal Reserve released a blog post with customizable graphs to allow anyone to measure the price of commodities against the bitcoin price.
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