Inflation is making headlines again after the Labor Department revealed this week that the US consumer price index soared to 8.5% year-on-year in March, the highest in more than four decades. According to crypto industry veteran and Morgan Creek Capital founder Mark Yusko, rising prices are not the real problem.
“This is not inflation. This is currency devaluation,” Yusko told Cointelegraph business editor Sam Bourgi in an exclusive interview at the Bitcoin 2022 conference in Miami.. Currency devaluation directly affects consumers’ purchasing power, which refers to how many goods and services a unit of money can buy.
Yusko was also asked about the lackluster performance of Bitcoin (BTC) over the past six months and whether he expects this phase of price discovery to continue indefinitely. In his opinion, BTC is very likely to hit $100,000, but investors need to be patient as adoption continues to grow.
Yusko and Bourgi also touched on traditional portfolio management strategies that teach investors to allocate 60% of their holdings to stocks and 40% to bonds. “Who in their right mind has bonds right now?” Bourgie asked. “Only the central banks,” Yusko replied. He won’t want to miss his full explanation.
You can watch the full interview on Cointelegraph’s YouTube page. Be sure to hit the “like” and “subscribe” buttons to see all of our future videos and updates. You can also view our full lineup of Bitcoin conference interviews.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.