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Bitcoin and Inflation
From bowtiedlobster.substack.com
In my discussions about BTC, the idea of debasement protection or inflation hedging comes up fairly often alongside the reasoning that BTC’s natural scarcity is relevant to these properties. This is widely believed and I disagree entirely. I had a conversation on this subject recently, a conversation that went so well I think it’s good to paraphrase as an article to share with others in the future. For professionals and the highly experienced, what follows is a short primer on the concept of duration (this is my hint that you can close the article at the end of this paragraph). The punchline: I consider BTC a ... (full story)