in the past weeks Bank of America (BofA) In a research note published by the company, he stated that the shock of inflation and economic recession has just begun in the USA, and that cryptocurrencies will outperform stocks during the recession.
After BofA and now Alex Mashinsky, CEO of Celsius NetworkHe said that the tight monetary policy that the FED started to implement in the face of increasing inflation in the USA may lead to economic recession next year.
Speaking to Kitco News Alex Mashinskyannounced the strategy that it will implement in the economic recession scenario:
“While the stock markets have been falling since the beginning of the year, the leading cryptocurrency Bitcoin has corrected most of its losses. This means that Bitcoin is finally starting to be seen as a safe haven.
So once again I am selling my shares on the stock market and getting more Bitcoins.”
With technology exchanges, one of the most talked about topics of recent times, bitcoin Touching on the ongoing high correlation between the two, the famous CEO thinks it’s time to separate the correlation between these two.
“The FED puts a lot of pressure on the economy by raising interest rates, rather than putting in and pulling liquidity from the market.
At the same time, the economic sanctions against Russia, the ninth largest economy in the world, are putting a great recession pressure on our economy. So I expect a recession in 2023.”
Mashinsky finally stated that he thinks Bitcoin will reach an all-time high this year. Bitcoin (BTC) with Ethereum (ETH) He also said that he believes it will perform very well during the economic recession.
*Not investment advice.