Jack Dorsey Sees Hyperinflation Happening And Changing Everything

Twitter CEO Jack Dorsey sees hyperinflation happening in the US and worldwide and this could change everything both in the traditional finance space and the crypto world, as we can see more in our latest crypto news today.

With inflation being here, Twitter founder and BTC proponent Jack Dorsey thinks it will continue at a fast rate and will lead to even bigger hyperinflation but not just in the US but around the rest of the world. The Square CEO shared his opinion on Twitter and stated:

“Hyperinflation is going to change everything… It’s happening.”

While inflation means a decrease in the purchasing power of money which is reflected in the general increase in the prices of services and goods in an economy and becomes hyperinflation when the inflation rate surpasses 50% according to reports. Dorsey’s tweets came after the United States Labor Department earlier this month which reproted that the consumer prices increased more than expected, reaching a 30-year high.

Crypto enthusiasts from Nigeria Tayo Oviosu commented in the tweet that the country is already experiencing a 16% per year inflation rate but Dorsey responded that this will happen on a worldwide scale soon. In the meantime, US Federal Reserve Chairman Jerome Powell previously commented on inflation concerns in the country and said it could continue to next year with the FED also starting to reduce the huge help that it offers to the economy by mid-November.

Most traditional investors commented ont eh rising inflation rate in the US while expressing many concerns that it could bring hyperinflation in the long run. However, crypto enthusiasts seem not as much concerned about the matter as they see BTC as a hedge against inflation. Despite the volatility of the assets, investors will choose it over other investment vehicles but not the retail ones. A few weeks ago, American multinational investment bank JPMorgan said that the institutional investors seem to be returning to BTC because they see it as a better inflation hedge than gold. In the meantime, Jack Dorsey thinks that BTC changes everything and there’s nothing more important to work on than the lifetime of the asset.

Jack Dorsey sees hyperinflation changing everything but he is heavily investing in crypto and even launched a Bitcoin tipping service on Twitter with Square building a hardware wallet and a Bitcoin mining system.