Hyperinflation will change everything, it already happens
Hyperinflation will change everything, it already happens
Since inflation is already there, the Twitter founder and Bitcoin advocate Jack Dorsey believes that she will continue quickly, which will lead to hyperinflation, not only in the United States, but in the rest of the world.
hyperinflation will change everything
The Square CEO shared his thoughts on Twitter: "Hyperinflation is everything change ... it happens. "
While inflation is a decline in the purchasing power of the money that is generally reflected in prices for goods and services in an economy, according to Investopedia, it becomes a hyperinflation if the inflation rate exceeds.
Dorseys tweet comes after the US Ministry of Labor reported that consumer prices rose more than expected and approach a 30-year high.
soon in the USA
The Nigerian businessman and crypto enthusiast Tayo Oviosu commented Tweet that his country has already experienced an inflation rate of 16% per year. Jack Dorsey replied: "It will soon happen in the USA and thus also in the world."
In the meantime, the chairman of the US Federal Reserve, Jerome Powell previously said in the country, said it could be continued next year, and the Fed could also begin to reduce the enormous help that it offers the economy in mid -November.
Bitcoin to save the day?
Many traditional investors have also said the increasing inflation rate in the USA and at the same time said concerns that this could lead to hyperinflation in the long term.
But crypto enthusiasts seem to be less concerned about the matter because they see Bitcoin as inflation protection . Despite the volatility of the investment class, investors still prefer them to other investment instruments in this difficult time, and they are not only private investors.
A few weeks ago, the American multinational investment bank JPMorgan called that "institutional investors apparently return to Bitcoin" because they see it as a better protection of inflation than gold.Dorsey: Bitcoin changes everything
In the meantime, Jack Dorsey is not just a crypto-admirer, he believes Bitcoin changes everything and there is nothing more important in life than the digital asset.
For this reason, he invests a lot to see the growth of the crypto industry. After the billionaire started a BTC drinking service on Twitter, he announced that his fintech company Square building also a hardware wallet and also a bitcoin mining System ..
Kommentare (0)