In a recent interview with Anthony Scaramucci, crypto analyst Noelle Acheson shed light on the intricate relationship between macroeconomics and the cryptocurrency market. She emphasized Bitcoin’s potential as a hedge against economic instability, particularly against currency debasement and political turmoil.
Acheson, drawing a parallel between Bitcoin and gold, views both as safe havens in times of uncertainty. She emphasized to Scaramucci, a speaker at Benzinga’s upcoming Future of Digital Assets event, that currency debasement contributes to widening inequality and fuels political polarization.
Despite significant political instability, gold has achieved record highs, sending a strong signal to investors that Bitcoin, while currently impacted by legal and political concerns, has yet to reach its peak. Acheson advocates for both Bitcoin and gold as the best options for investments in such an uncertain environment.
While cautiously optimistic about Bitcoin’s future price, Acheson acknowledges that a rise to $100,000 by year-end is “not out of the question.” However, she also highlights the difficulty of accurate predictions, emphasizing that such a surge would require a daily increase of 0.45%.
Acheson ties this price prediction to the limited supply of Bitcoin, comparing it to gold. Unlike gold, whose scarcity can be addressed through alternate production methods, Bitcoin’s supply is strictly controlled.
Looking ahead, Acheson expressed concerns about a potential economic slowdown, warning of the looming threat of stagflation in the coming year. This emphasizes the need for a deeper understanding of Bitcoin’s role as an institutional asset class, a subject that will be explored at Benzinga’s upcoming Future of Digital Assets event on November 19.
