economy Finance

Bitcoin is no inflation hedge but thrives when the dollar wobbles: NYDIG

Bitcoin doesn’t consistently act as a hedge against inflation, but it has instead “evolved into a liquidity barometer,” says NYDIG’s Greg Cipolaro. Inflation does not have a major impact on Bitcoin’s price, as many believe, but a weakening US dollar does help push up the cryptocurrency alongside gold, according to NYDIG.“The community likes to pitch Bitcoin as an inflation hedge, but unfortunately, here, the data is just not strongly supportive of that argument,” NYDIG global head of research Greg Cipolaro said in a note on Friday.“The correlations with inflationary measures are neither consistent nor are they extremely high,” he added. Cipolaro said that expectations of inflation are a “better indicator” for Bitcoin (BTC) but are still not closely correlated. Read more.

economy Finance government politics shutdown

Trump administration posts notice that no federal food aid will go out Nov. 1

The U. S. Department of Agriculture has posted a notice on its website saying federal food aid will not go out on Nov. 1 as the government shutdown drags on. The cutoff would expand the impact of the impasse to some of the Americans most in need unless a resolution is found in just a few days. The notice comes after the Trump administration said it will not tap roughly $5 billion in contingency funds to keep the benefits flowing into November. The Trump administration blames Democrats, who say they won’t agree to reopen the government until Republicans negotiate with them on extending expiring subsidies under the Affordable Care Act.

injury Sports

Thunder’s Chet Holmgren reveals dislocated thumb vs Hawks

After Oklahoma City Thunder forward Chet Holmgren tied a career-high six threes in a 117-100 win against the Atlanta Hawks, he revealed he dislocated his thumb. When Holmgren went up to contest Mouhamed Gueye’s dunk in the second quarter, he hurt his hand on the play, and headed toward the locker room before returning in [.] The post Thunder’s Chet Holmgren reveals dislocated thumb vs Hawks appeared first on ClutchPoints.