Newsweek spoke to finance academics about whether the world's first cryptocurrency can weather inflation.
The risks of investing in cryptocurrency are well-documented; Bitcoin and to a greater extent the wider crypto market is still seen as a risky play.
"Notwithstanding this potential Black Swan event, the price of Bitcoin has historically been highly volatile, moving rapidly, , with changes in sentiment and regulatory approaches of opinion leaders and nation states, respectively."Joe Raedle/Getty Images "In fact, any comparison to currencies is, in my view, not to be taken seriously, given the vast swings in value .
Among the shocks to the cryptocurrency market was the collapse of the Terra stablecoin. Terra or UST was tied to the value of the U.S. dollar. When hundreds of millions of dollars of UST were sold, it lost its $1 tie, leading to a chain of events that caused the value of both it, and cryptocurrency LUNA , to plummet.
"There are many types of stablecoins, including reserve-backed stablecoins and algorithmic stablecoins. Reserve-backed stablecoins offer one-to-one redemption for one US Dollar. Attendees pose for photos in front of The Miami Bull during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida.Many have speculated that greater widespread adoption and regulation could broaden Bitcoin's appeal.
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