Ari Paul, CIO and co-founder at crypto hedge fund BlockTower Capital, believes Bitcoin’s next parabolic move will soon be triggered by hyperinflation caused by the monetary policies of central banks.
According to Paul, the Federal Reserve will eventually need to devalue the dollar as a means to pay its increasingly high sovereign debt.
In that scenario, according to Paul, we’ll enter a period of hyperinflation similar to the Great Inflation in the 1970s. During such an event, investors could move their wealth away from dollars and Treasury bonds and into inflation-resistance assets.
“If we have a return to something like the 1970s, I think probably gold rallies five to 10X or more, I think Bitcoin probably rallies 10 to 30X or more”, he claimed.
Paul believes this process has already started and that we are already in an “inflationary market, a Bitcoin bull market and gold bull market in the early stages”.
He also said “Bitcoin is like a call on inflation,” meaning that as long as the expectation of high inflation remains high, the price of the call (Bitcoin) will also increase.
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The Link LonkAugust 03, 2020 at 11:53PM
https://cointelegraph.com/news/blocktowers-cio-predicts-hyperinflation-could-send-bitcoin-parabolic
BlockTower’s CIO Predicts Hyperinflation Could Send Bitcoin Parabolic - Cointelegraph
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