Thread by @bitcoinmalaya

HYPERINFLATION

@balaji made a shocking bet that #bitcoin will go to $1M in 90 days. This is a bet that predicts US Dollar hyperinflation, a worldwide financial catastrophe.

Frankly, $1M per BTC sounds freaking crazy. But now we got your attention. #BitSignal

🧵

1/ What is hyperinflation?

Hyperinflation is rapidly rising inflation, usually by >50% per month.

The price hike will be rapid, excessive, and out of control.

It is an extreme case of inflation.

2/ Rapid price hike in hyperinflation

We are already experiencing inflation. Now imagine an extremely-rapid version - hyperinflation.

If our money loses value rapidly, we will need more money to buy the same things.

Soon, people can't afford basic necessities.

3/ Hyperinflation happened before.

These are the worst cases of hyperinflation. Price literally DOUBLED every day.

4/ Why hyperinflation happens? Factors include:

a) Excessive money supply.

b) Political instability

c) Demand-pull inflation

Money printer go brrr

5/ The consequences of hyperinflation in US

DETRIMENTAL.

-US is the largest economy in the world.
-USD is the strongest fiat and world's dominant reserve currency.
-Economy collapse, social unrest, many will suffer.

I can't even imagine it or entertain this possibility.

6/ The Federal Reserve and the US government should be able to prevent hyperinflation.

BUT

We should hope for the best, and prepare for the worst right?

7/ Bitcoin is the best insurance against financial catastrophe.

-Supply cap of max 21 million BTC
-Good store of value
-Borderless
-Decentralized (no 3rd party intermediaries)
-Freedom (no central bank/government control)

Consider getting yourself insured.

End of thread 🧵

a) $1M per BTC in 90 days? I can't imagine hyperinflation in the US.

b) We should prepare for the worst while we hope for the best.

c) #Bitcoin will be our best insurance against hyperinflation.

Get insured. That's my #BitSignal.

*It is @balajis

No edit button for me, sorry :(