Twitter CEO Jack Dorseydrew attention to the risk that a “hyperinflation” could occur to the whole world, especially the United States. Here is Twitter CEO Jack Dorsey’s Bitcoin (BTC) hyperinflation alert.
Jack Dorsey, CEO of Twitter and Square Inc., tweeted early last Saturday that contained a warning message about hyperinflation.
Hyperinflation is going to change everything. It’s happening.
— jack⚡️ (@jack) October 23, 2021
“Hyperinflation will change everything. The tweet carrying the message “This is happening” is actually not so surprising. According to media reports, consumer price inflation in the US has approached the highest level in the last 30 years.
The tweet, which came after Federal Reserve Chairman Jerome Powell announced last Friday that inflation pressures will continue for longer than previously thought, caused this inflation to be talked about even more. While some of his followers agree with Dorsey, others think inflation is unrealistic.
In the early 1990s, Tufts University Professor Daniel Drezner, who lived in Ukraine, also opposed Dorsey’s opinion, writing a reply saying, “(inflation) this is not it, my friend…”.
Another Economist, Steve Hanke, who “boastes” about being an expert on inflation and hyperinflation and doesn’t believe in Bitcoin, was also seen to respond. According to Hanke, he claims that there have been only 62 hyperinflation in world history so far and that no country is currently battling any hyperinflation. He later stated that Jack should have known better than to tweet irresponsibly, especially in public statements.
While some of his followers pointed out that Bitcoin (BTC) will inevitably become the world’s reserve currency, he said that they agreed with Dorsey’s warning by tweeting “Thank God for Bitcoin” in the process.
Alex Gladstein, chief strategy officer of the Human Rights Foundation, was also on the side of Dorsey’s hyperinflation tweet and gave a remarkable response on this subject.
Gladstein emphasizing that only the financially privileged are those who are not “shocked” by the reality of Jack’s tweet. Then Nigeria, Iran, TurkeyHe added that in parts of the world, including Ethiopia, Cuba, Sudan, Lebanon, Venezuela and even many more, nearly 1.3 billion people are already living under double, triple or quadruple inflation. According to Gladstein, the world is already experiencing one of the biggest inflation crises in the world.
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