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
🧵
@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.
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.
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.
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
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.
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?
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.
-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.
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.
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