Global Liquidity Expert: Bitcoin and Gold are the Top Core Assets to Hedge Against Long-Term Currency Inflation

On November 25th, the global liquidity expert Michael Howell stated in his latest podcast that the trend of currency inflation, which has had a significant impact on the market over the past decade, is expected to continue for at least another two to three decades. Against this macro background, Bitcoin and gold have become a reasonable choice for investors to hedge against inflation. He suggested that when holding Bitcoin in a portfolio, adjustments can be made based on volatility to optimize risk-reward. Howell cited data from the Congressional Budget Office (CBO) to point out that from 2000 to 2025, the U.S. federal government's debt stock has increased tenfold, while during the same period, the S&P 500 index has risen by less than 5 times, and the price of gold has risen 12 times. This ongoing debt expansion environment provides long-term value support for Bitcoin and gold. Regarding the Bitcoin market cycle, Howell stated that he did not find clear "four-year cycle" evidence in historical data, but he observed Bitcoin's halving cycle, and the current trend indicates that the cycle is gradually converging. He emphasized that investors should consider both long-term trends and cyclical fluctuations when building a cryptocurrency portfolio. In terms of investment strategy, Howell advised that investors should consider Bitcoin, gold, and high-quality assets that perform well during inflationary periods (such as high-quality residential real estate and high-quality companies with pricing power) as core holdings. At the same time, tactical operations can be set up in the portfolio to moderately adjust risk at market cycle inflection points to optimize returns.