{"id":822,"date":"2022-01-03T13:23:22","date_gmt":"2022-01-03T13:23:22","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=822"},"modified":"2022-01-03T13:23:22","modified_gmt":"2022-01-03T13:23:22","slug":"bitcoin-is-new-gold-for-millennials-wharton-finance-professor-says","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=822","title":{"rendered":"Bitcoin is new gold for millennials, Wharton finance professor says"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC), the world\u2019s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton\u2019s finance professor.<\/p>\n<p>Gold\u2019s performance was \u201cdisappointing\u201d in 2021, Wharton School finance professor Jeremy Siegel said in a CNBC Squawk Box interview<em> <\/em>on\u00a0Friday.<\/p>\n<p>On the other hand, BTC has been increasingly emerging as an inflation hedge among younger investors, Siegel argued:<\/p>\n<p>\u201cLet\u2019s 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.\u201d<\/p>\n<p>Siegel also reminded that older generations witnessed how gold had soared during the inflation of the 1970s. \u201cThis time, it is not in favor,\u201d he added.<\/p>\n<p>Gold, which traditionally emerged as an asset class providing a hedge against inflation, failed to meet investors\u2019 expectations in 2021, recording its worst year since 2015 and dropping around 5% to close the year at $1,800. Despite massive price fluctuations over the course of 2021, BTC had surged around 70%\u00a0by the end of 2021.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>More billionaires turning to crypto on fiat inflation fears<\/em><\/strong><\/p>\n<p>Several prominent global investors supported BTC over gold in 2021, with Dallas Mavericks owner Mark Cuban arguing that Bitcoin was \u201cbetter than gold\u201d in October 2021. Starwood Capital Group co-founder Barry Sternlicht also said that gold was actually \u201cworthless\u201d and that he is holding BTC because every government was printing massive amounts of money.<\/p>\n<p>But despite BTC becoming an increasingly popular asset against gold, many financial and crypto experts believe that it is yet to prove inflation hedge status.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-is-new-gold-for-millennials-wharton-s-finance-professor-says\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC), the world\u2019s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton\u2019s finance professor. Gold\u2019s performance was \u201cdisappointing\u201d in 2021, Wharton School finance professor Jeremy Siegel said in a CNBC Squawk Box interview on\u00a0Friday. On the other hand, BTC has been increasingly emerging as an inflation hedge among [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=822"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/822\/revisions"}],"predecessor-version":[{"id":824,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/822\/revisions\/824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/823"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}