Crypto Die-Hards Turn Back to Origins With Anti-Inflation Push

(Bloomberg) — A crisis was supposed to be Bitcoin’s time to shine, when the need for an international currency outside the reach of central banks would prove invaluable. That hasn’t been the case.

No matter to crypto die-hards. The future is brighter than ever, especially as central banks around the world pump cash into listing economies, threatening a wave of inflation if growth were to snap back.

That’s when Bitcoin, with its finite supply, will become coveted, say some of its most prominent mainstream backers including Tyler Winklevoss, Mike Novogratz and Paul Tudor Jones.

The argument hearkens back to the token’s origins. Bitcoin’s halving, which happened on Monday and cut in half the rewards miners receive, has long been seen as a guard against inflation. What’s giving the argument new life right now is today’s economic backdrop. With the coronavirus pandemic wreaking havoc in nearly every corner of the world, central banks are dispensing gargantuan stimulus…