• Balaji Srinivasan, a venture capitalist and angel investor, believes that hyperinflation is happening now.
• He has made million-dollar bets that the price of Bitcoin will exceed $1M in 90 days.
• He advised investors to buy Bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and wealth seizure.”
Balaji Srinivasan Says Hyperinflation Happening Now
Venture capitalist and angel investor Balaji Srinivasan believes that hyperinflation is happening now. He pointed out recent government and Federal Reserve bailouts of Silicon Valley Bank and Signature Bank as evidence of this. Furthermore, he has made million-dollar bets that the price of Bitcoin will exceed $1M in 90 days.
Bitcoin as a Hedge Against Hyperinflation
Srinivasan explained in December last year that bitcoin is “a hedge against hyperinflation, monetary debasement, bank freezes, and wealth seizure.” He added that it “may eventually have a gold-like role” as a hedge against “standard” inflation but stressed that it takes decades to show this effect.
Advice for Investors
Believing that hyperinflation is already here, Srinivasan also urged investors to buy BTC in his tweet Friday. He emphasized: Buy bitcoin and get your coins off exchanges. In addition to this advice for investors looking to protect their assets from potential financial turmoil caused by hyperinflation or other factors, Srinivasan took a bet initiated by James Medlock on Twitter Thursday – where he agreed to bet $1 million USD if the U.S does not enter into a state of hyperinflation within 90 days.
James Medlock’s Bet
The former Coinbase CTO responded: I will take that bet. You buy 1 BTC. I will send $1M USD. This is ~40:1 odds as 1 BTC is worth ~$26k at the time of writing this article (May 2021). The termis 90 days from today (Friday).
With increasing bailouts being issued by governments worldwide due to Covid-19 related economic woes; many experts such as Balaji Srinivasan are predicting an onset of global inflationary pressures which could potentially lead us into a state of hyperinlfation over time. As such investors should consider taking steps to protect their assets from any potential financial turmoil caused by such events – with one suggestion being the purchase of Bitcoin which can act as a hedge against these possibilities occurring in the short term future