This extended abstract summarizes the essence of [Cong, Ghosh, Li, Ruan, and Streltsov, 2024], which uses proprietary data from a predominant cryptocurrency exchange in India and the country’s Household Inflation Expectations Survey to document a significantly positive association between inflation expectations and individual cryptocurrency purchases. The authors find that the effect is concentrated in Bitcoin (BTC) and Tether (USDT) trading, and is robust after controlling for speculative demand captured by surveys of investors' expected cryptocurrency returns. They also find that higher inflation expectations are associated with more new cryptocurrency investors. These results have causal interpretations as confirmed by instrumental variables. The findings of [Cong, Ghosh, Li, Ruan, and Streltsov, 2024] provide direct evidence that households already adopt cryptocurrencies for inflation hedging, which in turn rationalizes their high adoption in developing countries without a globally dominant currency.