“In our view, crypto (and bitcoin specifically) has been considerably misunderstood. It isn’t an inflation hedge, however extra of a debasement hedge that protects holders from fiscal/financial profligacy and coverage error,” Jonah Van Bourg, International Head of Buying and selling at Cumberland, informed CoinDesk in a be aware. “Any danger of US debt default is certainly a type of US Greenback debasement and/or coverage error, and the elevated demand we’re seeing (expressed in greater crypto costs) is that this use case bearing itself out.”

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