According to top-level analysts at Germany’s largest investment bank, Deutschebank, investors are now increasingly choosing to hedge against inflation with Bitcoin rather than gold.

This news was broken via Deutsche’s bank own Jim Reid via ZeroHedge, who stated the following - “There seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things(...)”

This is in part due to bitcoin increasing in value by a whopping 144% this year, whereas gold has seen just a 22% spike over the same period. While not insignificant, when compared with BTC, the winner is clear.

According to Reid, another contributing factor has been the breakthrough development of COVID-19 vaccines by pharmaceutical companies Pfizer and Moderna. This sudden development led to the redistribution of money from haven assets such as gold into higher-risk ones.

With precious metals slowly becoming less reliable as value assets, it’s fair to assume that cryptocurrencies such as Bitcoin and Dagcoin will see forward momentum in this area, and continue to leak into mainstream usage as a result.