Lin pointed out that if investors are simply looking for a way to earn fixed income, they could convert their fiat to crypto and deposit it on some of the larger centralized finance platforms or blue-chip decentralized finance protocols. Potentially, this gets a much higher return than depositing cash in a bank.
Steinglass remains skeptical about comparing cryptocurrencies to the dollar in the current situation now that the conflict in Eastern Europe caused the USD to spike in value relative to many other currencies as people scramble for stability. For the moment, demand for dollars has outstripped the fear of inflation. Steinglass added:
“On one side, cryptocurrencies are an element of an alternative money system and store of value badly needed and on the other side, they remain a risk asset in a time when investors worldwide have been reducing risk.”None of the experts interviewed by Cointelegraph mentioned gold-backed stablecoins such as PAX Gold as their preferred defensive asset. Historically, however, gold has been a traditional tool used to protect capital during times of financial turbulence.
Institutional investors have been showing an increased interest in gold-backed stablecoins, but the same cannot be said about the younger generation of retail investors. Perhaps the main problem with gold-backed stablecoins as a hedge against inflation is not technology but ideology. For many crypto folks, both fiat currencies and assets like gold represent old values.
It is clear that in 2022 inflation will remain a threat to investor capital, and the crypto industry has yet to find its answer to the question of combating this “silent thief.”
the inflation asset that has the highest inflation value
The end goal all along...
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