2 years ago
Venture capitalist Balaji Srinivasan says hyperinflation is happening now, and is making million-dollar bets that the terms of bitcoin volition scope $1M successful 90 days. In related news, myriad voices from the satellite of concern are sounding disconnected astir inflation, recession, and a brewing economical crisis. In spite of the economical turmoil, however, Federal Reserve seat Jerome Powell doesn’t envision the Fed cutting involvement rates this year. This and much conscionable beneath successful the Bitcoin.com News Week successful Review.
Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets connected Bitcoin Price Exceeding $1M successful 90 Days
Venture capitalist and angel capitalist Balaji Srinivasan says hyperinflation is happening now. Expecting the terms of bitcoin to soon deed $1 million, helium is making million-dollar bets that it volition hap successful 90 days. Srinivasan besides advised investors to bargain bitcoin, which helium believes to beryllium “a hedge against hyperinflation, monetary debasement, slope freezes, and wealthiness seizure.”
Economist Peter Schiff Expects Worse Financial Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless’
Economist Peter Schiff has warned that the existent fiscal situation volition beryllium worse than successful 2008. “Future complaint hikes are present pointless,” helium stressed, adding that immoderate effect volition beryllium much than offset by the Fed’s quantitative easing.
Economist David Rosenberg Warns of ‘Crash Landing’ and Recession, Citing Fed Data
Famed economist David Rosenberg has warned of a “crash landing” and an impending recession for the U.S. economy. Referring to the Philadelphia Fed’s manufacturing scale chart, helium stressed: “Take a bully hard look astatine this illustration and archer maine we are heading into a ‘soft’ oregon ‘no’ landing. More similar a ‘crash’ landing.”
Bitcoin’s Ordinal Inscriptions Surpass 500,000 Mark arsenic Miners Earn $2.66 Million successful Added Fees
According to statistics, determination are present much than 500,000 Ordinal inscriptions connected the Bitcoin blockchain arsenic the inclination continues to summation important traction. Onchain information besides shows that since inscriptions started gaining popularity past month, Bitcoin miners person obtained 98 bitcoins worthy $2.66 cardinal successful added fees.
Fed Chair Powell Says Rate Cuts ‘Not successful Our Base Case’ — Inflation Still ‘Too High’
Federal Reserve Chairman Jerome Powell does not spot the Fed cutting involvement rates this year. “Inflation remains excessively high, and the labour marketplace continues to beryllium precise tight,” Powell said, adding: “Financial conditions look to person tightened, and astir apt by much than the accepted indexes say.”
What are your thoughts connected this week’s crypto news? Let america cognize successful the comments conception below.
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