Trader Chris Dunn talks Bitcoin and inflation on the latest Crypto Trading Secrets podcast

Cointelegraph has released episode 8 of its Crypto trading secrets podcast, with an interview with trader, investor, podcaster and YouTuber Chris Dunn, who talks about experience in mainstream markets as well as around 10 years of activity in the crypto area. The trader and investor answered questions posed by host Benjamin Pirus during the March 14 taping of the episode, giving his thoughts on the role Bitcoin (BTC) plays as an asset and why he thinks people are willing to buy the coin, plus much more.

Dunn mentioned that he thinks COVID-19 made mainstream, non-crypto people think about the US monetary system, including questioning how the government can create trillions of dollars and whether or not they should trust the US dollar.

“Then the other thing is, OK, we’ve got some bank failures going on right now. We’ve got inflation going through the roof, and people are getting squeezed,” Dunn said.

During 2022, inflation reached significant levels across the globe. In March 2023, Signature Bank, Silicon Valley Bank and Silvergate Bank went under. These three players all had involvement in the crypto sector. Dunn explained:

“Millennials and younger are saying, ‘Hey, I have a good income, I work hard, but why can’t I afford the average house in my town or city?’ and ‘What happened there and what can I do to build my wealth? How can I beat this inflationary monster?’”

“That’s where Bitcoin comes in. At least so far, it’s been shown to just have good compound annual growth,” Dunn said. “It has outperformed inflation very, very well,” he continued. “Will it happen in the future? It’s yet to be seen, but so far over the last decade it’s proven to be a great asset, even considering the depth of the bear markets.” He added:

“Adjusted for volatility, Bitcoin is still one of the best performing assets on the planet. So I think people are waking up to the idea that maybe fiat isn’t the best form of money and maybe it’s a better way to store our wealth.”

Since its launch in 2009, Bitcoin has risen in price from less than $1,000 to more than $65,000 per coin at its peak, but it has also had dramatic drawdowns. In 2017, BTC rose in price from around $1,000 all the way to nearly $20,000 – and then fell below $5,000 in 2018. It then rose above $65,000 in 2021 before falling back below $20,000 in 2022, according to Bitcoin Cointelegraph’s index. This kind of turbulence makes the question of whether or not it is a store of value moot, given that buying at the wrong time can lead to significant losses.

Dunn also gave his take on a number of other issues during the episode and talked about his background.