CryptoWharton Professor: Bitcoin Is The New Gold For Millennials

Wharton Professor: Bitcoin Is The New Gold For Millennials

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  • Bitcoin is offering higher safety from inflation than gold, a Wharton finance professor mentioned.
  • Jeremy Siegel added that Bitcoin has changed gold within the minds of youthful traders.
  • The peer-to-peer cash outperformed gold by a big margin final 12 months, rising by nearly 60% whereas the steel misplaced 5% of its worth.

Bitcoin is appearing as a greater inflation hedge than gold and has changed the steel within the minds of youthful traders, a senior Wharton professor mentioned in a Friday interview with CNBC.

“Let’s face the fact, I think Bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold,” Jeremy Siegel said. “I think that the story of gold is a fact that the young generation is regarding Bitcoin as the substitute.”

The professor added that gold’s efficiency in 2021 has been “disappointing,” in actual fact the steel’s worst 12 months since 2015. Gold misplaced 5.81% of its worth throughout 2021, whereas Bitcoin gained almost 60%. The S&P 500, compared, rose by about 30%.





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