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Twitter and Square CEO Jack Dorsey says “hyperinflation” will soon occur in the United States and around the world

Twitter CEO, Square co-founder and CEO Jack Dorsey will speak at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Miami, Florida, on June 4, 2021.

Marco Bello | AFP | Getty Images

Twitter co-founder Jack Dorsey He emphasized rising inflation in the United States, saying things would get worse.

“Hyperinflation will change everything,” Dorsey tweeted Friday night. “It’s happening.”

For tweets Consumer price index has remained at a high level for nearly 30 years In the United States, there is growing concern that the problem may be worse than the policymakers expected.

Federal Reserve Chairman on Friday Jerome Powell Inflationary pressure “is likely to last longer than previously expected,” he said, “may continue until next year.”Central bank leaders will soon have the Fed Start withdrawing special measures It provided to help the economy, which critics say has stimulated the execution of inflation.

In addition to overseeing a social media platform with 206 million active users each day, Dorsey is a strong supporter of Bitcoin. He said Square, a debit and credit card processing platform co-founded by Dorsey, is considering cryptocurrency mining. Square also owns Bitcoin, facilitating its trading.

In response to user comments, Dorsey added on Friday that he is seeing inflation spread around the world. “It will happen soon in the United States and in the world,” he tweeted. Dorsey is now twitter When square..

Seeking faster inflation is one thing, but it may come as a surprise that Dorsey used the term hyperinflation. This is a condition of sharp price increases that can ruin the currency and disrupt the economy as a whole.

Billionaire Investor Paul Tudor Jones And others are looking for a time when inflation will rise.Jones told CNBC that he owns and sees Bitcoin earlier in the week As a good inflation hedge..

“Obviously there is a place for cryptocurrencies. Obviously it is winning the competition with gold at this point,” Jones said Wednesday.

However, most major investors have yet to demand hyperinflation like Dorsey.

Twitter and Square CEO Jack Dorsey says “hyperinflation” will soon occur in the United States and around the world

Source link Twitter and Square CEO Jack Dorsey says “hyperinflation” will soon occur in the United States and around the world

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