A recent blog post published by the Federal Reserve shows that since December 2022, Bitcoin has performed better than the U.S. dollar in resisting inflation. The author of the article compared the purchasing power of Bitcoin and the US dollar using the example of buying eggs. Data shows that as of August 2023, the number of Bitcoins required to purchase the same amount of eggs has decreased by 70%, while USD has decreased by 58%. However, eggs cost more in both currencies than at the start of 2021, at 39% and 73% respectively.

Nonetheless, analysts believe that the U.S. economy is showing warning signs and that a recession in 2024 is increasingly likely. The Fed's own data shows the likelihood of a recession in September is approaching 60%, while bond yields are surging.