- The US Senate has been recently discussing Bitcoin.
- The report argues that Bitcoin is an attractive investment during periods of high inflation.
- It seems evident that holding Bitcoin is a prudent move with a look into the future.
A tweet by the Bitcoin Magazine Research Report contrasts Bitcoin’s indestructible scarcity with macroeconomic uncertainty linked with record-high inflation. The report states that BTC “gives holders a form of wealth that has certainty in a very uncertain world.”
The report comes as US Senators including the Senate candidate Bruce Fenton are publicly discussing Bitcoin. In a recent tweet, Fenton compared BTC’s monetary policy to that of the United States, calling it “more responsible.”
The report argues that BTC’s hard money properties make it an attractive investment during periods of high inflation. It cites data from CoinMarketCap showing that BTC has outperformed traditional assets such as stocks, gold, and real estate during and more so in the post-COVID-19 pandemic.
The report concludes with a quote from investor Michael Saylor, who has argued that Bitcoin is “digitizing gold.” Saylor states that BTC “is permissionless and apolitical” and will continue to thrive regardless of who is in power.
The report’s release comes as Bitcoin`s monthly charts suggest that one could make out the closing prices of May, June, and July this year closed above the 50% Fibonacci retracement levels, BTC is also trading at a market capitalization of over $300 trillion. It is also worth noting that the US Senate recently held a hearing on cryptocurrency regulation, during which Bitcoin was largely praised by lawmakers.
From the anticipatory perspective, it seems evident that holding Bitcoin is a prudent move with a look into the future. A hedge is needed once the risk is apparent to all, and the house of cards will tumble.
From a real-time perspective, we also find Bitcoin to be a “must-own.” The price charts are showing the strength with which Bitcoin is aching to claim its turf, and it is never good to wait till “fear of missing out” kicks in, and low-risk entry opportunities become scarce.
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