BlockTower CIO Predicts Hyperinflation Could Strongly Drive Bitcoin
Ari Paul, CIO at crypto hedge fund BlockTower Capital, believes Bitcoin’s next parabolic move will soon be triggered by hyperinflation caused by central bank monetary policies.
According to Paul, the Federal Reserve will eventually need to devalue the dollar as a means of paying off its increasingly high sovereign debt. In that scenario, according to Paul, we will enter a period of hyperinflation similar to the Great Inflation in the 1970s. During such an event, investors could move their wealth of dollars and Treasury bonds to inflation-resistant assets.
“If we have a return to something like the 1970s, I think gold will probably recover five to 10 times or more, I think Bitcoin will probably recover 10 to 30 times or more,” he said.
Paul believes that this process has already begun and that we are already in an “inflationary market, a bull market for Bitcoin, and a bull market for gold in the early stages.”
He also said that “Bitcoin is like a contingency to inflation,” which means that as long as the expectation of high inflation remains high, the price of the contingency (Bitcoin) will also rise.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.