Wharton Professor of Business School warns of inflation, predicts multiple interest rate hikes, says Bitcoin has replaced gold for millennials – Economics Bitcoin News

A finance professor at the Wharton School of the University of Pennsylvania warned about inflation and the number of Fed rate hikes, much more than the market expected. He also stated that Bitcoin has become the new gold for millennials.

Bitcoin and Inflation Finance Professor

Wharton Finance Professor Jeremy Siegel (Jeremy Siegel) shared his outlook on various markets in an interview with CNBC on Friday, and he believes investors should be exposed to these markets this year.

Siegel is the Russell E. Palmer Professor Emeritus of Finance at the Wharton School of the University of Pennsylvania. His research focuses on demographics, financial markets, long-term asset returns, and macroeconomics.

He was asked about gold and commodities as future investments. Pointing out that gold is “disappointing”, he emphasized that “the younger generation sees Bitcoin as an alternative to gold” is a fact. The professor thinks:

Let us face the fact that I think Bitcoin has replaced gold as an inflation hedging tool in the minds of many young investors…Digital coins are the new gold for millennials.

“Old people remember the 1970s,” he continued. “Gold soared during that period of inflation. This time it was unpopular,” he pointed out.

Professor Siegel also believes that investors should be exposed to commodities, which he said can be achieved by investing in emerging markets that are sensitive to commodities.

The finance professor continues to discuss inflation, which he has repeatedly expressed concern about. “I have been talking for a long time. I have been warning about inflation for a year and a half,” he emphasized.

“The Fed and the fiscal authorities have done too much, especially the Fed in terms of liquidity,” he described. “They are far behind the curve, and we have embedded a lot of inflation.” The professor concluded:

The Fed will raise interest rates much more often than the market expected.

Tags in this story

Bitcoin millennials, commodity, Digital gold, Emerging Markets, U.S. Federal Reserve, Professor of Finance, Gold, Inflation warning, Interest rate hike, Interest rate hike, Federal Reserve, University of Pennsylvania, Wharton School of Business

What do you think of the inflation warning from the finance professor and his comments on Bitcoin and gold? Please let us know in the comments section below.

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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