itcoin (BTC), the world’s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton’s finance professor.
Gold’s performance was “disappointing” in 2021, Wharton School finance professor Jeremy Siegel said in a CNBC Squawk Box interview on Friday.
On the other hand, BTC has been increasingly emerging as an inflation hedge among younger investors, Siegel argued:
“Let’s face the fact, I think Bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold. Digital coins are the new gold for the Millennials. I think that the story of gold is a fact that the young generation is regarding Bitcoin as the substitute.”