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BlockTower CIO predicts that hyperinflation could push Bitcoin strongly

August 3, 2020

Ari Paul, CIO and co-founder of the BlockTower Capital Crypto Hedge Fund, believes Bitcoin’s next parabolic move will soon be triggered by hyperinflation caused by central bank monetary policy.

According to Paul, the Federal Reserve will eventually have to devalue the dollar to pay off its growing sovereign debt.

In this scenario, Paul says We will enter a phase of hyperinflation that is similar to the big inflation in the 1970s. During such an event, investors could convert their dollar and government bond assets into inflation-resistant assets.

BlockTower CIO predicts that hyperinflation could push Bitcoin stronglyBlockTower CIO predicts that hyperinflation could push Bitcoin strongly

“If we go back to something like the 1970s, gold is likely to recover five to ten times or more. I think Bitcoin is likely to recover ten to thirty or more times.”, he claimed.

Paul believes that this process has already started and that we are already in one “Inflation market, bitcoin bull market and gold bull market in early stages”.

He said that too “Bitcoin is like a coincidence for inflation”This means that the price of contingent liabilities (Bitcoin) will also rise as long as the expectation of high inflation remains high.

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