A million-dollar Bitcoin bet, financial crisis warnings abound, and ordinal listings exceed…
Venture capitalist Balaji Srinivasan claims hyperinflation is happening and is making million dollar bets that the price of bitcoin will hit $1 million in 90 days. In related news, a myriad of voices from the world of finance are heard about inflation, recession and a brewing economic crisis. Despite the economic turmoil, however, Federal Reserve Chairman Jerome Powell does not see the Fed cutting interest rates this year. This and more just below in Bitcoin.com’s news week in review.
Balaji Srinivasan Says Hyperinflation Is Happening Now – Makes $1 Million Bets on Bitcoin Price Surpassing $1 Million in 90 Days
Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening. Expecting the price of bitcoin to reach $1 million soon, he is betting $1 million that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he sees as “a hedge against hyperinflation, currency depreciation, bank freezes, and wealth grabbing.”
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Economist Peter Schiff expects financial crisis worse than 2008 – says ‘future rate hikes are now unnecessary’
Economist Peter Schiff warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now unnecessary,” he stressed, adding that any effect will be more than offset by quantitative easing from the Fed.
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Economist David Rosenberg warns of ‘crash landing’ and recession, citing Fed data
Renowned economist David Rosenberg has warned of a “hard landing” and impending recession for the US economy. Referring to the Philadelphia Fed’s manufacturing index chart, he pointed out, “Look at this chart carefully and tell me we’re headed for a ‘soft’ or ‘no’ landing. More like a “crash” landing.
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Ordinal Bitcoin Listings Surpass 500,000 Mark as Miners Earn $2.66 Million in Extra Fees
According to statistics, there are now over 500,000 ordinal listings on the Bitcoin blockchain as the trend continues to gain traction. Data from Onchain also shows that since registrations started gaining popularity last month, bitcoin miners have obtained 98 bitcoins worth $2.66 million in additional fees.
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Fed Chair Powell says rate cuts ‘not part of our base case’ – Inflation is still ‘too high’
Federal Reserve Chairman Jerome Powell does not see the Fed lowering interest rates this year. “Inflation remains too high and the labor market continues to be very tight,” Powell said, adding, “Financial conditions appear to have tightened, and likely more so than traditional indexes suggest.”
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What do you think of this week’s crypto news? Let us know in the comments section below.
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A million-dollar Bitcoin bet, financial crisis warnings abound, and ordinal listings exceed…
