Community Explains Why Inflation Doesn't Drive More People To Crypto

A community member started a discussion on r/cryptocurrency about why inflation isn't pushing more people into the crypto space.

While some predict that more people will naturally get into crypto due to inflation, the reality falls far short of some community members' expectations. A discussion in the r/cryptocurrency subreddit highlighted this topic and explored why higher inflation doesn't push more people into the crypto space.

According to a Reddit user, events like the US Federal Reserve printing more money and the government spending more and more funds led them to the conclusion to get into crypto as one of its functions is to hedge against inflation. The Redditor said he expected more people to do the same in the subreddit. However, the community member now wonders why this is not the case.

In response to the Reddit thread, a community member pointed out that higher inflation means the cost of goods is rising. Because of this, the Redditor thinks people have "less to invest", suggesting that people would prioritize their basic needs over putting their money into crypto. Another user agreed with this idea, saying that people would rather burn gas for warmth in the winter than spend their money on "sketchy shitcoins".

Redditor contributing discussion Source: reddit. com

Meanwhile, another user mentioned that the US Dollar (USD) has done very well throughout the year. According to the user, even Bitcoin (BTC) has lost value against USD in the current year. In addition, a user