Bitcoin, dollar plunge while S&P 500 rallies after US inflation hits 3-decade ...
Data on Friday showed core personal consumption expenditure in the US surged to 3.42% year-over-year for the first time since 1991. Bitcoin (BTC) and the U.S. dollar fell in tandem while the S&P 500 refreshed its record high at open on Friday as the Federal Reserve's preferred inflation indicator surged to its highest levels in almost three decades.According to data shared by the US Bureau of Economic Analysis, the US Core Personal Consumption Expenditure (PCI) rose 0.5% in May, coming in below the estimation of 0.6%.Nevertheless, the expenditure rose 3.4% year-over-year, the highest level....
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Since 2010, inflation has turned $1 into 84 cents while $1 invested in Bitcoin would be worth $274,000. Bad news — the increase in the Bitcoin (BTC) price over the past decade may have been overstated because of the accompanying fiat inflation. Since Bitcoin is typically denominated in fiat — United States dollars usually — it is not immune to its depreciation.Bitcoin price versus Bitcoin price adjusted for inflation. Source: Cointelegraph.In the decade that followed the economic crisis, the U.S. enjoyed some of the lowest inflation in history, which hovered around 2% annually. However,....
U.S. inflation continues to roar higher as this week’s data from the consumer price index (CPI) jumped 6.2% from a year ago. Americans are concerned as the Federal Reserve has expanded the monetary supply like at no other time in history, suppressed the benchmark interest rate, and U.S. politicians are creating multi-trillion-dollar packages with money the government doesn’t have. The news of hotter than usual inflation caused stock markets to fall on Wednesday, and U.S. president Joe Biden said the White House is prioritizing “getting prices down.” Inflation:....
As the U.S. inflation data dropped, individuals in the crypto space shared their quotes, jokes and excitement while raising the Bitcoin banner. The recent news on U.S. dollar inflation spurred a series of reactions from the crypto community, noting that the event should push people toward Bitcoin (BTC). Comments from the crypto community championed Bitcoin as a powerful hedge against U.S. dollar inflation.The US Bureau of Labor Statistics recently reported a 7.5 percent increase in the all items section of the consumer price index (CPI), the most commonly used indicator for inflation.....
Since Bitcoin’s genesis block, central banks around the world have been debasing their fiat. The post A Decade Of Dollar-Denominated Debasement Debauchery appeared first on Bitcoin Magazine.
The U.S. Personal Consumption Expenditure (PCE) core price index has soared to its highest level since 1992, stoking inflation fears. Some say Bitcoin, with its fixed supply of 21 million tokens, will resist inflation. But is there any truth to that? Source: @lisaabramowicz1 on Twitter.com Is Hyperinflation On The Way? The PCE measures price changes […]