- Stanislav Kostyukhin is a trading specialist at Saxo Bank.
- Saxo recently launched a crypto trading platform and offers over 50 crypto exchange-traded products.
- Kostyukhin revealed the tokens investors are using as inflation hedges and his concerns about meme coins.
Other cryptocurrencies are joining bitcoin as a “store of value” to shield an investor’s portfolio from inflation, according to a strategist at Saxo Bank.
“Crypto does act as a safe haven of sorts,” Stanislav Kostyukhin, a trader at the Danish investment bank, told Insider in a recent interview. “It’s decoupled from traditional asset classes and macroeconomic trends globally, and inflation specifically.”
With inflation in the US currently at a 13-year high of 5.4%, the low correlation between bitcoin and inflation has encouraged inflows into the world’s largest cryptocurrency. Some have used the term “digital gold” to refer to bitcoin’s potential role as a future store of value, and JPMorgan analysts have noted that bitcoin’s recent surge is largely thanks to inflation fears.