Beauchamp Says Inflation Fears Are Sending Investors From Bitcoin and Gold to Bonds

Investors are shifting from Bitcoin (BTC) and gold toward government debt to earn income as inflation fears build, IG Group chief market analyst Chris Beauchamp said. Beauchamp tied the move to expectations of rising inflation and the appeal of interest-paying bonds. Bitcoin and gold do not pay interest, making them less attractive to investors seeking income from their holdings. The U.S. inflation backdrop included a 0.4% rise in consumer prices in October, a larger increase than economists expected. Core inflation, which excludes food and energy, also ran hotter than forecast.