Twitter and Square CEO Jack Dorsey says ‘hyperinflation’ will happen soon in the U.S. and the world

This article explains.

Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021.
Marco Bello | AFP | Getty Images

Twitter founder Jack DorseyThe escalating U.S. Inflation has been discussed by many, who believe that it will only get worse.

Dorsey tweeted on Friday night: “Hyperinflation’s going to transform everything.” It’s happening.

Tweet with consumer price inflation running near a 30-year highIn the U.S., there is growing concern about the possibility that this problem might be more serious than policymakers had anticipated.

Federal Reserve Chairman will be on Friday Jerome PowellThe central bank chief acknowledged the fact that inflation pressures could last “longer than expected,” and suggested that they could continue to run into next year. According to the central bank chief, he believes that the Fed will soon be able to address inflation pressures. begin pulling back on the extraordinary measuresIt has helped the economy, which critics claim have contributed to the inflation run.

Dorsey oversees the social media platform with 206 millions active users daily. He is also an avid bitcoin advocate. Square, Dorsey’s debit- and credit card processing site, has stated that it is exploring mining of the cryptocurrency. Square is also a bitcoin trading platform and owns some Bitcoin.

Dorsey replied to comments and said Friday that the problem of inflation is escalating all around the globe. He tweeted, “It will occur in the US soon and so the globe.” Dorsey currently serves as the CEO and President of Twitter Square

While it is one thing to demand faster inflation, some may find it surprising that Dorsey used hyperinflation to describe a situation of rising prices rapidly that could lead to the destruction and collapse of entire economies.

Billionaire investor Paul Tudor JonesMany have advocated for rising inflation. Jones stated earlier this week to CNBC that he has bitcoins and believes in its future. as a good inflation hedge

Crypto is a viable option. Jones spoke Wednesday, stating that it is winning the battle against gold.

However, most major investors aren’t so bold as to demand hyperinflation such as Dorsey.

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