We found these interesting thoughts from the Wall Street Journal on cryptocurrencies that we want to share with you.
“Cryptocurrencies are supposed to be a hedge against inflation because issuance is usually restricted. But that’s only true of an individual currency. As an asset class, cryptocurrency inflation is rampant: There are now more than 5,000 coins.
Gold never faced competition from dozens of new precious metals hitting the market each month.
Gold became a store of value because through most of history it was also a medium of exchange: Coins were once minted from it, and paper money was long backed by it. If crypto never finds acceptance as a medium of exchange, its usefulness as a store of value is also in doubt.” WSJ 5-21-21