While financial analysts are waiting for the next global financial crisis, and some countries have already included machines for printing national currency currencies, at this time Jack Dorsey is the founder of Twitter and CEO of Square, discusses the possibilities that this same crisis can bring to the crypto-currencies in general and Bitcoin in particular.
According to Jack, Bitcoin's wave has already overwhelmed the world, and in the near future it will dominate as a currency for e-commerce. During the first half of the year and to date, most crypto currency prices continue to decline, but this does not mean that Bitcoin will be lost in the price chaos. This is just an ordinary cycle in development, there are many such falls on the account of the main crypto currency and this does not make it weak.
The founder of Twitter is optimistic:
Ultimately, there will be a single currency in the world, there will be a single currency on the Internet. I personally believe that this will be bitcoyne. It will happen, most likely, in ten years, but maybe faster.
The crisis, the printing of money and the inevitable inflation are a kind of kick to investors towards an asset that is not controlled by states.
In support of Dorsey's words, today in an interview with CNBC Ray Dalio - founder and CEO of the world's largest hedge fund Bridgewater Associates, said:
I think that the situation in the world will be more serious in terms of social and political problems, not just financial ones. It will be a steadily shrinking type of debt crisis, backed by acute social, as well as international conflicts. Not all states will cope with this.
Honored journalist Bob Woodward after Trump's discussion at the conference on national debt, recalls the president's words: "We'll just run the press and print more money."
In countries with a weak economy, such an approach very quickly shows the fallacy of such a strategy, for example in Zimbabwe, hyperinflation has led to the printing of 100 trillion dollar bills.
Many governments periodically practice this approach and the US is no exception. But if the Zimbabwe dollar inflation is absolutely harmless for the world economy, the US dollar inflation will be extremely bad for the global economy, because the main financial flows are provided by $ USD.
From all of the above, it follows the assumption that the more fierce the crisis is, the more capital will pass into the crypto-currencies.