Charles Schwab VP: Bitcoin status as a store of value in doubt

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Financial services company Charles Schwab senior vice president Liz Ann Sonders has said bitcoin’s growth towards an inflation hedge and store of value is in doubt after the digital asset plunged by at least 50% from the April 14th all-time high of $64,800. Speaking to TD Ameritrade Network, Sonders noted that after the price correction, it is hard to predict bitcoin’s next move following the 2021 rally. According to Sonders, the bitcoin price slump emerged when the asset was most needed amid rising inflation in years.
I have no clue about what bitcoin is going to do in the near term, medium term, what we saw in the period where you basically got cut in half and only a few weeks time sort of puts a question mark around the store of value. A lot of people say, well, it’s an inflation hedge, interesting that it got cut in half at the exact point that we finally after decades started to see this pick up in inflation,” said Sonders.Source