Crypto

Wholesale inflation is back in focus. Here’s what PPI means for your money and Bitcoin

CryptoSlate···1 min read

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KEY POINTS

Bitcoin was designed as a hedge against inflation, but every hot inflation report in the past year has knocked its price lower, and Thursday's data was no different.
The Producer Price Index rose 1.1% in May, lifting the annual increase to 6.5%, the fastest pace since November 2022 and well above the 0.7% monthly gain

Bitcoin was designed as a hedge against inflation, but every hot inflation report in the past year has knocked its price lower, and Thursday's data was no different. The Producer Price Index rose 1.1% in May, lifting the annual increase to 6.5%, the fastest pace since November 2022 and well above the 0.7% monthly gain

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