Professor Wharton Siegel: Bitcoin is the new gold of the millennium.

Recipe:

1. A professor at the Wharton School of Business believes that young investors now prefer to use bitcoin as their first choice for long-term investment over gold.

2. 2021 is not the best year for gold. It is "astounding" in its role of hedging against inflation.

3. The Wharton School of Business begins studying cryptocurrency in Q4 2021 to teach the basics of blockchain technology.

In an interview with CNBC, a financial expert from the Wharton School of Business at the University of Pennsylvania said that Bitcoin is now the preferred financial hedging tool for young people.

Bitcoin a remplacé l'or

Wharton Finance professor Jeremy Siegel said young entrepreneurs are now looking to Bitcoin to hedge real estate investments in the face of inflation.

“In the minds of many young investors, Bitcoin has replaced gold as a hedge against inflation,” Siegel said. "Digital coins have been the new gold for thousands of years. Bitcoin as an alternative."

Jeremy Siegel said gold and other commodities have fallen short of expectations over the past year and that Bitcoin has increasingly become the first choice of a new generation of traders. Siegel recalls that last year Bitcoin's development trajectory was similar to that of gold during most of the inflation of the 1970s. However, given the performance of the cryptocurrency so far, it has "stolen a lot of attention from gold" in recent months.

Gold, the tradition of raising prime hedge rates for investors, underperformed last year. I haven't experienced this loss in 6 years. Its cost last year was around $ 1,800. Although the value of Bitcoin has fluctuated throughout the year, it still closes with gains of 70%.

The teacher also addressed the issue of inflation. “I've said this on a number of occasions. My inflation reports have gone up for a year and a half,” Siegel said. For more information on blockchain, please download the Block Sky Eye app and the Global Blockchain Supervision Inquiry app.

He expressed concern that the Fed and other finance officials might not be able to meet their targets, as could the Fed's role in fiat finance. "The Fed will raise rates more than the industry needs," he added.

University blockchain technology

The University of Wharton at the University of Pennsylvania announced the online certification of new business ventures in October 2021. It also became the first Ivy League university to accept cryptocurrency as a tuition fee.

On behalf of the organization, Project Director Prof. Kevin Werbach said: “We have created this project for professionals and industry leaders from a variety of backgrounds including finance, management and technology. .

“Blockchain and digital assets will not go away. We look forward to helping business leaders, consultants and entrepreneurs identify the driving force behind this new technology and give them a better understanding of problem solving, ”he added.

Schoolboy Elon Musk has always been one of the biggest advocates of cryptocurrency. His company, Tesla, has Bitcoin on its balance sheet, and the craze for Dogecoin and other coins even is due to Twitter's "slapstick show".