In a warning issued by a finance professor at the Wharton School of the University of Pennsylvania, inflation and fed hiking rates are the concerns raised by him. He has also mentioned that for the millennial, Bitcoin has become the new gold.
Professor on Bitcoin and Inflation
Jeremy Siegel, Russell E. Palmer Professor Emeritus of finance at Wharton School, has shared his viewpoint about various markets that he believes will attract investors in 2022. Siegel’s research mainly focuses on financial markets, demographics, macroeconomics, and long-run asset returns.
He said that for the future gold is not a good option for investing and stressed, how the younger generation is considering Bitcoin as a substitute for gold.
He also suggested that the investors should look to invest in emerging markets, which are commodity-sensitive.
He further discussed inflation and raised many concerns. He described that “The fed and the fiscal authorities have overdone it, especially the Fed on liquidity”. The professor concluded by saying that “They are far behind the curve that we have a lot of inflation that is embedded in”.
He excepts fed to hike many times, then what is expected by the market.
Disclaimer: The article is just to provide information and shouldn’t be considered as any financial advice. It is advisable to conduct thorough research before investing in any cryptocurrency.
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