“In our view, cryptocurrencies (especially Bitcoin) are somewhat misunderstood. It is not an inflation hedge, but rather a depreciation hedge to protect holders from financial/monetary waste and policy mistakes. The Cumberland transaction said in a CoinDesk memo that “the risk of U.S. debt default is actually in the form of a depreciation of the U.S. dollar and/or policy mistakes, which we see (higher An increase in demand (expressed in crypto prices) is a use case for this.
