Sen. Warren says she’s skeptical that bitcoin will prove to be a reliable hedge against inflation over the long run.
will prove to be a reliable hedge against inflation over the long run, a key reason some investors choose to own it.
"People can make their own investment decisions, but to do that somehow assumes two things. One is that what's happening with bitcoin or any other cryptocurrency is somehow going to be divorced from what's happening elsewhere in the economy," the Massachusetts Democrat, a frequent Wall Street and crypto critic, said onThe second assumption, according to Warren, is "crypto coins are not going to have their own inflationary pressures.
"The idea that they're somehow a protection or a hedge, I don't think that's going to be borne out over time," she added., providing protection against what they see as too much government fiscal spending on top ultra-accommodative monetary policies by global central banks causing problematically high inflation. Their reasoning is that eventual supply of bitcoin is capped at 21 million tokens. Currently, the world's largest cryptocurrency by market value has 18.
New bitcoins come into the market when so-called miners use high-powered computers to verify transactions across the blockchain, a decentralized digital ledger. That reward is systematically reduced roughly every four years in a technical event known as the "halving." The most recent occurredMany critics, Warren among them, point to bitcoin's penchant for wild price swings and believe it undercuts the premise of bitcoin as a store of value.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Lesley Ann Warren Answers Every Question We Have About ClueThe 1985 film 'Clue' has found a new class of fans in the age of streaming. Lesley Ann Warren, who played Miss Scarlet, answered every last question we had about the whodunnit (and the reboot currently in production)
Leer más »
Ex-Sen. Levin, Michigan’s longest-serving senator, has diedFormer Sen. Carl Levin, a powerful voice on military issues in Washington and a staunch supporter of the auto industry back home in Michigan during his record tenure in the U.S. Senate, has died. The Harvard-educated civil rights attorney and former taxi driver, who for decades carried his faded 1953 auto union membership card in his wallet, died Thursday, his family and the Levin Center at Wayne State University’s law school announced in an evening statement. First elected to the Senate in 1978, Levin represented Michigan longer than any other senator, targeting tax shelters, supporting manufacturing jobs and pushing for military funding.
Leer más »
Ex-Sen. Levin, Michigan’s longest-serving senator, has diedDETROIT (AP) — Former Sen. Carl Levin, a powerful voice on military issues in Washington and a staunch supporter of the auto industry back home in Michigan during his record tenure in the U.S. Senate, has died.
Leer más »
Facebook Gave Investors 10.4 Billion Reasons To Be Happy—But Its Stock Sank AnywaysFacebook gave investors 10.4 billion reasons to be happy but its stock sank anyways by abebrown716
Leer más »