So another crypto myth bites the dust. And it’s hard to avoid wondering what myths are left. Recently the legendary short-seller Jim Chanos gave Bloomberg a wide-ranging interview in which, speaking of cryptocurrency, he pointed out that “a lot of the concepts behind its adoption early on have proven to basically be, you know, not there or wanting. You know, it was going to be a replacement currency. Well, no, it’s not. Well, it’s going to be a diversifying asset. Well, no, it hasn’t been.” And now we know it isn’t an inflation hedge either.
Source: Opinion | Wonking Out: Wasn’t Bitcoin Supposed to Be a Hedge Against Inflation? – The New York Times
