When in doubt, zoom out. Bitcoin may be down from its record high of $69,000, but it has been one of the best-performing financial assets in 2021 after outperforming the U.S. benchmark index, the S&P 500, and gold.
“Most economists didn’t see the high inflation coming, as witnessed by the 1-year ahead consumer inflation expectations,” the Arcane report read, adding:
“With its 73% gain in the highly inflationary 2021, Bitcoin has proven itself to be an excellent inflation hedge.”Bitcoin holdings grew among institutional investment vehicles Loose monetary policies and a sustained fear of higher inflation also prompted mainstream financial houses to launchArcane reported an inflow of 140,000 BTC across spot- and future-based Bitcoin exchange-traded funds and physically backed exchange-traded products this year.That prompted more Bitcoin units to get absorbed into investment vehicles, underscoring a greater institutional demand for the cryptocurrency.
In contrast, gold-backed ETFs witnessed an outflow of $8.8 billion in 2021, according to the World Gold Council’s
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