We found these interesting thoughts from the Wall Street Journal on cryptocurrencies that we want to share with you.
āCrypĀtocurĀrenĀcies are supĀposed to be a hedge against inĀflaĀtion beĀcause isĀsuance is usuĀally reĀstricted. But thatās only true of an inĀdiĀvidĀual curĀrency. As an asĀset class, crypĀtocurĀrency inĀflaĀtion is ramĀpant: There are now more than 5,000 coins.
Gold never faced comĀpeĀtiĀtion from dozens of new preĀcious metĀals hitĀting the marĀket each month.
Gold beĀcame a store of value beĀcause through most of hisĀtory it was also a medium of exĀchange: Coins were once minted from it, and paĀper money was long backed by it. If crypto never finds acĀcepĀtance as a medium of exĀchange, its useĀfulĀness as a store of value is also in doubt.ā Ā Ā WSJ 5-21-21