Twitter CEO says Hyperinflation Will Change Everything

Jack Dorsey shared his stance on the increasing inflation in the present economy of the United States and tried to indicate how it can be handled through Bitcoin. 

In the present time inflation rate is going to be a big matter. People started to talk about inflation in the economy after the Covid-19 pandemic situation. 

Most crypto traders don’t think about inflation matters in the economy but here Jack Dorsey, founder of Twitter & Bitcoin leader, shared his point of view on this matter. 

Jack Dorsey tweeted on 23 October that “hyperinflation is going to change everything”. 

This tweet of Jack Dorsey was responded  by a Nigerian businessman Tayo Oviosu. Tayo wrote about the situation of inflation in Nigeria, which is at 16%. In this tweet, Jack Dorsey replied that first it will take place in the US and then in the whole world. 

Dorsey on US inflation 

The tweet of Jack Dorsey is coming after a recent month report by the United States Labor Department that consumer prices rose more than expected and this is around a 30-year high.

Experts believe that Jack Dorsey tried to criticize the working system of the ruling government. According to Jack, the US will be the first to face hyperinflation and then the whole world will face it. 

Here Hyperinflation means an increase in inflation by more than 50%. An increase in inflation is a clear meaning of the decrease in the purchasing power of currencies. And here, the Twitter founder believes that it can be handled through Bitcoin.

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