Analysis: BTC has transitioned into an inflation hedge asset

An analysis suggests that Bitcoin has successfully shed its label as a risk asset sensitive to interest rates and transitioned into an inflation hedge. According to CoinDesk, while high inflation previously led to interest rate hikes that suppressed Bitcoin's price, rising inflation now drives capital into Bitcoin amid concerns over the declining value of fiat currencies. The outlet argues that Bitcoin has moved out of the Nasdaq's shadow and is beginning to follow the early growth model of gold.