Plunge capitalist Balaji Srinivasan says hyperinflation is happening now, and is making million-dollar bets that the price of bitcoin ordain reach $1M in 90 days. In related news, myriad voices from the world of finance are sounding off about inflation, slump, and a brewing economic crisis. In spite of the economic turmoil, however, Federal Reserve chair Jerome Powell doesn’t foresee the Fed cutting interest rates this year. This and more just below in the Bitcoin.com News Week in Assess.
Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days
Put forward capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar ventures that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, money debasement, bank freezes, and wealth seizure.”
Read More
Economist Peter Schiff Expects Worse Fiscal Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless’
Economist Peter Schiff has warned that the present-day financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any in truth will be more than offset by the Fed’s quantitative easing.
Read More
Economist David Rosenberg Warns of ‘Blast Landing’ and Recession, Citing Fed Data
Famed economist David Rosenberg has warned of a “crash landing” and an impending economic downturn for the U.S. economy. Referring to the Philadelphia Fed’s manufacturing index chart, he stressed: “Take a good hard look at this plan and tell me we are heading into a ‘soft’ or ‘no’ landing. More like a ‘crash’ landing.”
Read More
Bitcoin’s Ordinal Inscriptions Better 500,000 Mark as Miners Earn $2.66 Million in Added Fees
According to statistics, there are now more than 500,000 Ordinal inscriptions on the Bitcoin blockchain as the bent continues to gain significant traction. Onchain data also shows that since inscriptions started gaining lionization last month, Bitcoin miners have obtained 98 bitcoins worth $2.66 million in added compensations.
Read More
Fed Chair Powell Says Rate Cuts ‘Not in Our Base Case’ — Inflation Still ‘Too Acute’
Federal Reserve Chairman Jerome Powell does not see the Fed cutting interest rates this year. “Inflation residues too high, and the labor market continues to be very tight,” Powell said, adding: “Financial conditions seem to accept tightened, and probably by more than the traditional indexes say.”
Read More
What are your meditations on this week’s crypto news? Let us know in the comments section below.
Symbol Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct tender or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, permitted, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in link with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer