Dogecoin Creator Speaks Against “Crypto Is Inflation Hedge” Thesis’
Dogecoin creator Billy Markus shared his view on the popular belief about cryptocurrencies being an inflation hedge. The creator of the memecoin believes that it is nothing but “marketing” and that people mostly trade or hold crypto because of its hyper volatile nature.
The “inflation hedge” narrative about the cryptocurrency market appeared a few months ago, when Bitcoin, Ethereum and other cryptocurrencies showed relatively convincing performance on the market, outperforming most traditional assets.Such a tendency of cryptocurrencies made them a perfect store of value, with fiat currencies’ value decreasing in the background. The sentiment has changed after the massive correction of the market we saw back in May, caused by the Terra UST and LUNA catastrophe.