Dollar Tree Hikes Prices to $1.25 — Bitcoiners React

Dollar Tree Hikes Prices to $1.25 — Bitcoiners React

1 month ago

The store had sold products for a flat fee of $1 for 35 years, but now, most prices are going to be increased by 25%.

Dollar Tree Hikes Prices to $1.25 — Bitcoiners React

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Dollar Tree is raising most of its prices to $1.25 — prompting a swift reaction from crypto enthusiasts.
The store had sold products for a flat fee of $1 for 35 years, but this left it unable to sell a number of customer favorites.

Although Dollar Tree insists the permanent change is "not a reaction to short-term or transitory market conditions," there's no denying that inflation has been surging in recent months.

Earlier this month, it was confirmed that the consumer price index had surged by 6.2% in October — the highest level since 1990

This has resulted in higher prices for consumers in (most) outlets, while merchants have seen razor-thin profit margins eroded.

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Bitcoin: An Antidote to Inflation?

Inevitably, Dollar Tree's decision to increase prices by 25% was described by some BTC investors as solid evidence that inflation is spiralling out of control. Bitcoin maximalist Mike Alfred wrote:

"You know hyperinflation is going into overdrive when everything at Dollar Tree costs $1.25. Buy #Bitcoin."

Robert Kiyosaki — the author of Rich Dad, Poor Dad — struck a similar note, writing:

"Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer. Get smart. Get richer. I am buying more gold, silver, Bitcoin,  ethereum, rental real estate, and oil. What are you buying?"

Meanwhile, Cameron Winklevoss opted to read between the lines for this announcement — and said that, if you use the Dollar Tree as a proxy for inflation rather than the consumer price index:

"Inflation is closer to 25% than the widely reported 6%. Ouch."

Unfortunately, this analogy doesn't really stand up, not least because Dollar Tree isn't really an effective proxy for inflation.