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In the prevailing high-inflation environment, investors are opting for value stocks over Bitcoin.
Source: Bloomberg
BTC USD up +4.28%, S&P 500 up +0.99%
A survey of 900 investors by Bloomberg Markets Live disclosed that value stocks were ranked as the best inflation hedge with 35% majority support. Bitcoin, the largest cryptocurrency on the basis of market value, only got 4% of the total votes.
Inflation is rising rapidly in the United States economy. In February, consumer prices surged 7.9% over the last 12 months, with gasoline prices contributing to the larger portion of the increase.
Bloomberg’s survey disclosed that 73% of the respondents stated that the central banks were not doing enough to control inflation.
The US Federal Reserve began making an effort to deal with rising prices with an interest-rate hike the previous week.
Investors are still exploring other ways to hedge inflation, and value stocks appear to be the best bet. Last week, value stocks topped growth stocks by ten percentage points.
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