India’s Iconic Investor’s Wild Bitcoin Prediction
It is quite rare to see a Bitcoin prediction emerging from Wall Street directly. Even if they do, such predictions are not wild guesses. The particular street is what gives directions to many investors.
If a prediction is made by Wall Street, many investors tend to follow it, which means success for the particular asset or company. Similarly, if the Street detests or rejects a stock, it gets declined by most of the traders.
However, a Bitcoin prediction has in fact come from Wall Street and belonged to a veteran venture capitalist, Balaji Srinivasan. Wall Street has almost never made any predictions about the trading price or future of any cryptocurrency.
In Srinivasan’s future of Bitcoin, after a maximum period of three months, Bitcoin would become a million-dollar asset.
Hence, at the suggestion of Srinivasan, a single unit of Bitcoin would be sold over and above $1 Million after three months.
Srinivasan’s Bitcoin Prediction Relies on Hyperinflation
Srinivasan however is convinced that his prediction is authentic and is ready to place a million-dollar bet with anyone.
He said that because of the factors namely hyperinflation, wealth seizures, devaluation of USD and global fiats, etc., his prediction would come true.
He explained that the world is already facing the challenge of ‘hyperinflation’. He also said that hyperinflation shall soon be followed by global fiat devaluation and wealth and fund seizures by banks.
Basing his prediction on these factors, he suggested that Bitcoin is destined to become a million-dollar asset very soon.
How Much Weight Does Srinivasan’s Bitcoin Prediction Carry?
It is worth noting that Srinivasan is a highly regarded individual from Wall Street. His profile shows him, apart from being a venture capitalist, as an experienced investor, acclaimed writer, market expert, and tech founder.
His recent past professional experience includes working with Coinbase as its CEO and as a partner to Adreeessen Horowitz.
He regulatory writes for the Wall Street Journal and also holds the award of being the ‘bestselling author’ of the journal.
He simply cannot predict anything in thin air. If he has given foresight then it is expected that while predicting he must have taken into account all analytical standards.
Srinivasan insisted that ‘hyperinflation’ is already in the field and that further crisis is inevitable.
He even highlighted Jack Dorsey’s two-year-old tweet post wherein Twitter’s ex-CEO had said with certainty ‘hyperinflation was going to happen’.
Srinivasan responded to the tweet and remarked that “Dorsey was 100% right”.
Srinivasan Talks about Bailouts Offered By US Fed. Reserve
While sending Bitcoin prediction, Srinivasan also talked about the alleged ‘bailout’ proposals soon to be offered by US Fed. Reserve.
In this connection, he referred to the Treasury Department’s statement, where the Treasury had assured the launching of ‘The Bank Term Funding Program (BTFP)’.
It has been proposed by the Treasury that crucial funding of at least $25 Billion shall be provided to near-to-collapse banks immediately.
Initially, such financial aid packages will be offered to the banks namely Signature Bank as well as Silicon Valley.
Bitcoin Already Proved Its Worth
According to Srinivasan, Bitcoin does not need to now prove anything. He stated that Bitcoin has already proven its worth and the fact that it is a genuine ‘hedger’ against hyperinflation and other economic crisis.
Srinivasan, in particular, referred to Venezuela, Nigeria, El Salvador, and Lebanon to argue that such states already took advantage of Bitcoin.
He further stated that Bitcoin’s role in the global crisis would be instrumental as it is worth more than Gold even.
On the basis that hyperinflation has already taken place, he urged investors to have faith in Bitcoin. He asked investors in a tweet post to make sure to obtain at least 1 Bitcoin for the sake of a better future.