Analyst: It seems reasonable for Amazon to keep a "small portion" of its cash in Bitcoin
According to The Washington Post, Morningstar analyst Dan Romanoff stated that although gold is typically considered the most suitable asset for hedging against inflation, Bitcoin might be a more useful tool for this purpose. Over the past five years, both Bitcoin and gold have appreciated in price beyond inflation, with Bitcoin's increase being much larger.
Dan Romanoff believes that despite there not being much historical data on how cryptocurrencies perform during different economic cycles, it could be reasonable to make small investments in Bitcoin. He added: "If Amazon can keep a small portion of cash in Bitcoin, it seems quite sensible."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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