Is Bitcoin a Good Inflation Hedge?

As the price of Bitcoin (CRYPTO: BTC) soars to new heights, inflation is also increasing at record rates.

Bitcoin reached an all-time high of more than $68,000 per token recently, up nearly 300% over the past year. Meanwhile, in October the consumer price index (CPI) rose by 6.2% from one year ago, its highest in more than 30 years.

Some experts believe Bitcoin's recent rally is related to the increase in inflation, as Bitcoin has often been referred to as "digital gold" because of its potential to be an inflation hedge. But can the cryptocurrency really be an effective hedge against inflation? It depends.

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Source Fool.com