> I like that it's a hedge against governments printing endless amounts of money that isn't backed by anything
This depends a lot on how much you of the price of bitcoin you think is speculation (versus fundamental), and exactly how much inflation you expect. If the FED overshoots the inflation target speculation could cool down a lot [1]. That may give you an "inflation hedge" that evaporates if inflation actually happens.
This depends a lot on how much you of the price of bitcoin you think is speculation (versus fundamental), and exactly how much inflation you expect. If the FED overshoots the inflation target speculation could cool down a lot [1]. That may give you an "inflation hedge" that evaporates if inflation actually happens.
[1] Page 74, Section A.7 Speculative premium, https://researchdatabase.minneapolisfed.org/downloads/0p0966... [PDF, 1.8MB]