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You are at:Home » Twitter Chief Jack Dorsey Predicts A Hyperinflation In The U.S. And Globally
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Twitter Chief Jack Dorsey Predicts A Hyperinflation In The U.S. And Globally

Ravi KumarBy Ravi KumarOctober 25, 2021No Comments4 Mins Read
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Twitter Chief Jack Dorsey Predicts A Hyperinflation In The U.S. And Globally - AlexaBlockchain
Photo: Twitter Founder And CEO Jack Dorsey
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Is The U.S. Headed For A Hyperinflation?

Twitter and Square CEO Jack Dorsey warns of a hyperinflation situation in the U.S. and Globally. “Hyperinflation is going to change everything,” billionaire Dorsey tweeted Friday night.

Twitter founder Jack Dorsey made a remarkable statement about rising inflation in the US and said things will get significantly worse.

“Hyperinflation is going to change everything,” Jack Dorsey tweeted Friday night. “It’s already happening.” The inflation tweet comes after a record spike in consumer prices not seen in the US for 30 years and growing concerns that the problem could be worse than policymakers had anticipated.

Responding to comments from users, Dorsey added Friday that he sees the inflation problem escalating around the world. “It will soon happen in the US, and therefore the entire world,” he tweeted. Dorsey is currently both the CEO of Twitter and Square.

It’s one thing to argue for faster inflation, but it may surprise some that Dorsey used the word hyperinflation, a condition of rapidly rising prices that can ruin currencies and bring down entire economies. Billionaire investor Paul Tudor Jones and others have called for a period of rising inflation. Most major investors have not gone as far as advocating hyperinflation like Jack Dorsey.

Fed On Inflation

Federal Reserve Chairman Jerome Powell recently expressed his concerns about higher inflation and said that the central bank would watch carefully for signs that households and businesses were expecting sustained price pressures to continue.

“Supply-side constraints have gotten worse,” Mr. Powell said Friday at a virtual conference. “The risks are clearly now to longer and more-persistent bottlenecks, and thus to higher inflation.”

Powell acknowledged that inflationary pressures will “probably last longer than previously anticipated,” noting that they could persist “well into next year.”

The central bank leader added that he expects the Fed to soon begin withdrawing the extraordinary measures it has taken to help the economy, which critics say have fueled inflation.

Square Considering Bitcoin Mining

Dorsey is a strong advocate of digital currency Bitcoin. In fact, he goes on say that only Bitcoin can be the currency of Internet.

Read Also: Twitter Will Integrate Bitcoin Into Its Existing And New Offerings

Dorsey recently tweeted that his debit and credit card processing platform Square is considering a “bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.” Square also owns bitcoins and facilitates trading in them.

Hyperinflation And Investing

The crazy thing about hyperinflation is that it comes on suddenly and accelerates. Once the trust is gone, there is almost no stopping it. Hyperinflation means investing in things that cannot be printed and are not owned by any country or government. What is limited in the world and cannot be easily reprinted, only becomes more valuable under hyperinflation. Think of precious metals, gold and commodities. Investments in real estate are also seen as reasonably safe. Hyperinflation also means opting for a mortgage with a long fixed-rate period.

Impact On Bitcoin

Bitcoin may emerge as the best Store of Value in a situation of Hyperinflation for a number of reasons. First, if a hyperinflation becomes reality in the U.S., it will be felt across the globe.

Bitcoin seems to emerge as an ideal alternative for many. And, there are strong reasons to support this. All other currencies are already under pressure and people will start looking for a safe alternatives. Recently all the major economies, including the U.S., Russia, U.K., and Brazil, have made favorable decision for Bitcoin. Additionally, all the leading global financial institutions are already supporting Bitcoin investments. Leading payment networks Visa and Mastercard now support Bitcoin payments. More importantly, some big multinationals have moved their treasury reserves into Bitcoin.

Bitcoin Jack Dorsey Square Twitter United States World Economy
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Ravi Kumar
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Ravi is Founder and Chief Content Officer of AlexaBlockchain. He writes about everything at the cross-section of blockchain, crypto, AI, markets, and the economy. Ravi can be reached at ravi@alexablockchain.com

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