BREAKDOWN: Bitcoin Is More Than an Inflation Hedge

While fears of a “great monetary inflation” have driven the recent bitcoin narrative, other aspects like censorship resistance and peaceful protest matter just as much.
This episode is sponsored by Bitstamp and Ciphertrace.
Today on the Brief:

Why bitcoin sold off

A bank-the-unbanked narrative for the digital dollar

It’s Dave Portnoy’s world and we’re all just living in it

Today’s main topic: Why inflation isn’t the only bitcoin narrative that matters.
When bitcoin’s halving coincided with the most aggressive central bank policy of all time, it set a clear narrative framework for bitcoin as an inflationary hedge. This was captured by people like legendary hedge fund investor Paul Tudor Jones, who warned of a “great monetary inflation.” 
In this episode, NLW argues 1) that inflation could be a dangerous narrative to focus on too closely due to a number of countervailing deflationary forces, and 2) there are a variety of other narratives that are just as important to bitcoin, including:

Censorship resistance 

Seizure-resistant asset

Currency controls and reshoring 

Nations looking to escape USD system

Independent banking 

Peaceful protest

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