Jefferies calls the main crypto Bitcoin (BTC) a “critical hedge” against the potential of monetary policy that reduces the value of the currency, as well as the return on inflation.

Bitcoin ( BTC ) continues to gain ground by establishing itself as a considered asset iron in any well-diversified portfolio. Indeed, Jefferies declared Bitcoin in a note to investors on Wednesday (BTC style="font-family: "Bookman Old Style”, "serif"">) of “critical coverage.” The company is thus putting BTC in the same bag as gold by providing effective protection against policies that have seen the purchasing power of the US dollar and other fiat currencies fall over time. For Jefferies, even though investors have “effectively abandoned” forecasts of a recession in the United States, the data still indicates that a slowdown is coming and that efforts to tighten monetary conditions will lag further behind this cycle than usual due to an explosion in money supply growth that began in 2020