Jefferies: Bitcoin is a ‘critical hedge’ against inflation, belongs in same bag as gold
Recently, Bitcoin (BTC) has garnered growing support from traditional financial institutions that see the asset as a potential hedge against inflation and an investment opportunity. The backing has emerged as Bitcoin attempts to find a spark that will trigger the next bull run. In line with this trend, Jefferies, a leading global investment firm, is the latest entity to endorse Bitcoin as a “ critical hedge ” against potential monetary policies that might devalue fiat currencies and lead to a resurgence of inflation . In a note to investors on Wednesday, October 4, the firm emphasized that Bitcoin’s unique qualities place it in the same league as gold as a dependable defense against inflation. Christopher Wood, the Global Head of Equity Strategy at Jefferies, cautioned that major G7 central banks, with the Federal Reserve at the forefront, may struggle to smoothly exit from unconventional monetary policies. Wood underscored that a failure to exit from these ...