Bitcoin was supposed to offer shelter from rising inflation, but the crypto market has crashed instead.
"It's tricky because it's supposed to act like a currency, it's taxed like property and some people compare it to a commodity. At the end of the day, it really is its own asset class that doesn't have a pure definition."
Another consideration is that cryptocurrencies like bitcoin have only been around for just over a decade. Because of this,"there isn't enough history there in terms of historical data to really understand what purpose it serves as an investment," Jariwala says. While cryptocurrencies like bitcoin are"not proven" to be a reliable, long-term store of value, they could still gain acceptance over time and become less volatile, Omid Malekan, an adjunct professor at Columbia Business School specializing in crypto and blockchain technology, tells CNBC Make It.
"Once volatility smooths out, we will have a better picture of how it responds to macro developments, like the rate of inflation or what the Fed is doing," he says, cautioning that current crypto prices could reflect all sorts of inputs aside from inflation, like too many
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Compass Mining Cuts 15% of Staff, Lowers Executive Compensationbitcoin mining company.compass_mining cut 15% of its staff and is lowering executive compensation mikeybellusci reports
Consulte Mais informação »
Strawberry and Pretzel Ice Cream PieThis pie celebrates strawberries three ways: with a layer of jam, store-bought ice cream, and a tumble of fresh berries.
Consulte Mais informação »
I Finally Experienced the Wide-Open World of OverlandingIt’s not hard to understand why the lifestyle keeps growing.
Consulte Mais informação »
I Finally Experienced the Wide-Open World of OverlandingIt’s not hard to understand why the lifestyle keeps growing.
Consulte Mais informação »
Jesse Watters: No one has confidence in the American presidency anymoreFox News host Jesse Watters explained why many Americans lack confidence in the presidency and U.S. institutions on Wednesday's 'Jesse Watters Primetime.'
Consulte Mais informação »