Illustration: Gabriella Turrisi/Axios
Bitcoin as a safe haven against inflation, once accepted wisdom for crypto proponents, is proving questionable.
Why it matters: In the face of persistently high consumer price index prints, the world’s largest and oldest digital asset has crumpled, eroding investor confidence that it can act as a safe haven during times of market turmoil.
State of play: Bitcoin has a sufficient history now to offer a dataset to be parsed and mined for patterns, giving way…
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