Inflation & the Role of Bitcoin with Steven McClurg

“If the government is printing 5% more dollars and they’re using that money to do things, they have essentially taxed you with the money that you already have without you knowing it.”— Steven McClurgLocation: NashvilleDate: Wednesday 29th SeptemberCompany: Valkyrie Investments IncRole: Co-FounderMainstream economists consider a benchmark rate of 1-3% price inflation optimal to promote consumption and economic growth. However, as prices rise, savers lose purchasing power, and asset holders increase their net worth.Over the last 18 months, more than $5 trillion dollars have been created in the US alone, and legislation that would spend over $3 trillion more is under consideration. This increasing supply of money is driving prices higher.Today, Consumer Price Inflation has sustained a 30-year high of over 5%, and it may be threatening to go higher.So what happens next, and how does Bitcoin fit in?In this interview I talk to Steven McClurg, Co-Founder of Valkyrie Investments. We discuss the problems of rising inflation, fragility in equities and bonds, and if Bitcoin can serve as a hedge.This episode’s sponsors:Gemini - Buy Bitcoin instantlyBlockFi - The future of Bitcoin financial servicesSportsbet.io - Online sportsbook & casino that accepts BitcoinCasa - The leading provider of Bitcoin multisig key security.Exodus - The world's leading Desktop, Mobile and Hardware crypto wallets.Ledger - State of the art Bitcoin hardware walletCompass Mining - Bitcoin mining & hosting-----WBD410 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.