Wharton Professor: Bitcoin Is The New Gold For Millennials



  • Bitcoin is providing better protection from inflation than gold, a Wharton finance professor said.
  • Jeremy Siegel added that Bitcoin has replaced gold in the minds of younger investors.
  • The peer-to-peer money outperformed gold by a large margin last year, rising by almost 60% while the metal lost 5% of its value.

Bitcoin is acting as a better inflation hedge than gold and has replaced the metal in the minds of younger investors, a senior Wharton professor said in a Friday interview with CNBC.

“Let’s face the fact, I think Bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold,” Jeremy Siegel said. “I think that the story of gold is a fact that the young generation is regarding Bitcoin as the substitute.”

The professor added that gold’s performance in 2021 has been “disappointing,” in fact the metal’s worst year since 2015. Gold lost 5.81% of its value during 2021, while Bitcoin gained nearly 60%. The S&P 500, in comparison, rose by about 30%.


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