Topic: $20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom - page 2. (Read 357 times)
I really hope that everything will happen because we are all tired of watching the flat on the cryptocurrency market and already want to see very good growth
ShapeShift CEO Erik Voorhees has said that the growing debt of the US, which hovers at around $21.7 trillion as of November, will inevitably cause a big spike in crypto.
“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and a decline in the purchasing power of the US dollar.
BlackRock, the world’s largest asset manager with more than $6.317 trillion in assets under management, is the latest major financial institution to express concerns regarding the rapidly increasing national debt of the US. The conglomerate’s CEO, Larry Fink, stated that the US government is heading towards a supply problem due to the country’s increasing budget deficit. Beginning next year, Fink noted that the US could be forced to borrow $1 trillion a year. The rising inflation rate of the US dollar, as shown by the growing interest rates of the Federal Reserve, has become too high to sustain the economy. “That could be the real issue related to everything: where we have interest rates becoming too high to sustain the economy with its growth rates,” BlackRock CEO Larry Fink said.
“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and a decline in the purchasing power of the US dollar.
BlackRock, the world’s largest asset manager with more than $6.317 trillion in assets under management, is the latest major financial institution to express concerns regarding the rapidly increasing national debt of the US. The conglomerate’s CEO, Larry Fink, stated that the US government is heading towards a supply problem due to the country’s increasing budget deficit. Beginning next year, Fink noted that the US could be forced to borrow $1 trillion a year. The rising inflation rate of the US dollar, as shown by the growing interest rates of the Federal Reserve, has become too high to sustain the economy. “That could be the real issue related to everything: where we have interest rates becoming too high to sustain the economy with its growth rates,” BlackRock CEO Larry Fink said.
It's interesting to see Fink compared to Voorhees here. I'm guessing Fink doesn't agree that the looming national debt will cause a cryptocurrency boom. It wasn't long ago that he said BlackRock's clients have zero interest in it.
I think it's pretty unpredictable what would happen in a real financial crisis. I don't share Voorhees's optimism.
I share the same opinion as you! When the financial crisis will become prominent, a country like US will start taking some steep measures to bring back the wealth to their treasury! Among many other techniques, increasing interest rate is certainly one of them. It is an effective technique often exercised by the central banks to fight inflation and bring back the wealth to fill the coffer of the country. As a result, the US citizens will end up paying more in their loan repayments commitments. The price of daily commodities will be increased to bridge the gap of revenue for the companies because the business loan interest will also go up. This way the country will start filling up their coffers from the public's pocket and the common people will be left with a limited resources in hand.
I am not optimistic that US financial crisis will lead to a crypto boom due to these reasons! When the common people will be left with limited resources, they will not have the power to invest in cryptos the way we are envisaging now. The demand may not increase to that level where we can experience big crypto boom. Even though I personally want it to happen because it will make me richer, but that may not be the case!
While I want to believe what Voorhes stated on this article, real-world scenarios in the midst of a financial crisis always tend to deviate from models and predictions made by experts so still, I don't want to bank on it hard. There are still other places where assets could go, particularly but not exclusively gold and other precious metals, with cryptocurrencies trailing due to lack of trust from institutional investors. We watched the US employ all these crazy economic instruments and policies in the past few years that lead to its growth being stunted by inflation, and if this keeps up, financial crisis worse than 2008 could occur. We don't want that to happen, but then again, the US is forcing itself to the brink of such a catastrophe, and to escape the downfall, keeping our assets in another relatively safe asset is a must, and this could be cryptocurrencies or precious metals.
unfortunately i can not see any kind of "crypto" boom in our near future because the "cryptos" are mostly pump and dumps and you can not expect any kind of real booms from any of them.
the pumps can only take the price so high before it busts and the coin gets dumped hard. as you can see from the market of this year as the altcoins continue getting dumped to this day.
bitcoin is another matter. the US economy might collapse and we start seeing some economy crisis and in that case bitcoin may start shining and increases its price.
the pumps can only take the price so high before it busts and the coin gets dumped hard. as you can see from the market of this year as the altcoins continue getting dumped to this day.
bitcoin is another matter. the US economy might collapse and we start seeing some economy crisis and in that case bitcoin may start shining and increases its price.
$20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom
Not necessarily. Some may buy, indeed, but many will lose money and assets and will sell Bitcoin in order to recover.
Pump and dump -like spikes may be more possible that a big boom. At least for these reasons.
Keep believing and just be patient.
I think that Bitcoin believers don't hope for booms. A small constant healthy growth or even (price) stagnation are also pretty good options.
People in crypto said something positive about crypto and there's a story about it?
Oh gee, I haven't read tons of opinions by people that may or may not know what they are talking about in the space. Count me in and bring the whole forum who hasn't read enough about how big "crypto" could be....
If only there were more news sites telling everyone how valuable the latest crypto currency and ICO launching could possibly be. Maybe people would throw money at it and believe millions are around the corner if they get into crypto.
Or maybe it keeps scaring away people from a bunch of snake oil salesmen that want to pollute an emerging industry and make a quick buck.
All while bitcoin sits there storing value and being more secure than any of the latest and greatest coins being shilled.
Oh gee, I haven't read tons of opinions by people that may or may not know what they are talking about in the space. Count me in and bring the whole forum who hasn't read enough about how big "crypto" could be....
If only there were more news sites telling everyone how valuable the latest crypto currency and ICO launching could possibly be. Maybe people would throw money at it and believe millions are around the corner if they get into crypto.
Or maybe it keeps scaring away people from a bunch of snake oil salesmen that want to pollute an emerging industry and make a quick buck.
All while bitcoin sits there storing value and being more secure than any of the latest and greatest coins being shilled.
I honestly don't think such a scenario would be that big of a boon for crypto. We've already seen it in the small scale (Venezuela, Turkey, etc.) and crypto hasn't been a very popular choice for diversification. A USD devaluation would affect everyone's economies, and it's very likely that there will be no escaping it.
I could easily be wrong, but I'd rather not find out. The growing debt truly is concerning though. It's going to be interesting to see how they try to work around it.
I could easily be wrong, but I'd rather not find out. The growing debt truly is concerning though. It's going to be interesting to see how they try to work around it.
The predictive forecast from a very influential person. This again confirms that cryptocurrency will grow very well in the future
ShapeShift CEO Erik Voorhees has said that the growing debt of the US, which hovers at around $21.7 trillion as of November, will inevitably cause a big spike in crypto.
“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and a decline in the purchasing power of the US dollar.
BlackRock, the world’s largest asset manager with more than $6.317 trillion in assets under management, is the latest major financial institution to express concerns regarding the rapidly increasing national debt of the US. The conglomerate’s CEO, Larry Fink, stated that the US government is heading towards a supply problem due to the country’s increasing budget deficit. Beginning next year, Fink noted that the US could be forced to borrow $1 trillion a year. The rising inflation rate of the US dollar, as shown by the growing interest rates of the Federal Reserve, has become too high to sustain the economy. “That could be the real issue related to everything: where we have interest rates becoming too high to sustain the economy with its growth rates,” BlackRock CEO Larry Fink said.
“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and a decline in the purchasing power of the US dollar.
BlackRock, the world’s largest asset manager with more than $6.317 trillion in assets under management, is the latest major financial institution to express concerns regarding the rapidly increasing national debt of the US. The conglomerate’s CEO, Larry Fink, stated that the US government is heading towards a supply problem due to the country’s increasing budget deficit. Beginning next year, Fink noted that the US could be forced to borrow $1 trillion a year. The rising inflation rate of the US dollar, as shown by the growing interest rates of the Federal Reserve, has become too high to sustain the economy. “That could be the real issue related to everything: where we have interest rates becoming too high to sustain the economy with its growth rates,” BlackRock CEO Larry Fink said.
It's interesting to see Fink compared to Voorhees here. I'm guessing Fink doesn't agree that the looming national debt will cause a cryptocurrency boom. It wasn't long ago that he said BlackRock's clients have zero interest in it.
I think it's pretty unpredictable what would happen in a real financial crisis. I don't share Voorhees's optimism.
Source: https://www.ccn.com/20-trillion-us-debt-will-inevitably-lead-to-big-crypto-boom-prominent-investors/
$20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom: Prominent Investors.
ShapeShift CEO Erik Voorhees has said that the growing debt of the US, which hovers at around $21.7 trillion as of November, will inevitably cause a big spike in crypto.
“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and a decline in the purchasing power of the US dollar.
BlackRock, the world’s largest asset manager with more than $6.317 trillion in assets under management, is the latest major financial institution to express concerns regarding the rapidly increasing national debt of the US. The conglomerate’s CEO, Larry Fink, stated that the US government is heading towards a supply problem due to the country’s increasing budget deficit. Beginning next year, Fink noted that the US could be forced to borrow $1 trillion a year. The rising inflation rate of the US dollar, as shown by the growing interest rates of the Federal Reserve, has become too high to sustain the economy. “That could be the real issue related to everything: where we have interest rates becoming too high to sustain the economy with its growth rates,” BlackRock CEO Larry Fink said.
Nouriel Roubini, a professor at NYU Stern School and a cryptocurrency skeptic, echoed the sentiment of Fink, emphasizing that the interest rate has increased to a point in which the US economy cannot match it with its growth rate. “Second, because the stimulus was poorly timed, the US economy is now overheating, and inflation is rising above target. The US Federal Reserve will thus continue to raise the federal funds rate from its current 2% to at least 3.5% by 2020, and that will likely push up short- and long-term interest rates as well as the US dollar,” Roubini said, predicting a major financial crisis by 2020.
If a financial crisis is to occur by the end of 2020 as predicted by many economists in the US primarily due to the overly high-interest rate set forth by the Federal Reserve, then the US dollar could drop substantially in value and open up investors to stores of value such as gold and cryptocurrencies whose value is not dependent of the global economy.
Vinny Lingham, the founder of Civic and a partner at Multicoin Capital, said that more wealth would be created in crypto in the next 10 years than the past ten years, despite several large corrections the market faced and will continue to experience in the years to come.
“More wealth will be created in crypto over the next 10 years, than over the prior 10 years. But remember, like any success story, it’s not going to be a straight line up. Keep believing and just be patient.”
$20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom: Prominent Investors.
ShapeShift CEO Erik Voorhees has said that the growing debt of the US, which hovers at around $21.7 trillion as of November, will inevitably cause a big spike in crypto.
“When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and a decline in the purchasing power of the US dollar.
BlackRock, the world’s largest asset manager with more than $6.317 trillion in assets under management, is the latest major financial institution to express concerns regarding the rapidly increasing national debt of the US. The conglomerate’s CEO, Larry Fink, stated that the US government is heading towards a supply problem due to the country’s increasing budget deficit. Beginning next year, Fink noted that the US could be forced to borrow $1 trillion a year. The rising inflation rate of the US dollar, as shown by the growing interest rates of the Federal Reserve, has become too high to sustain the economy. “That could be the real issue related to everything: where we have interest rates becoming too high to sustain the economy with its growth rates,” BlackRock CEO Larry Fink said.
Nouriel Roubini, a professor at NYU Stern School and a cryptocurrency skeptic, echoed the sentiment of Fink, emphasizing that the interest rate has increased to a point in which the US economy cannot match it with its growth rate. “Second, because the stimulus was poorly timed, the US economy is now overheating, and inflation is rising above target. The US Federal Reserve will thus continue to raise the federal funds rate from its current 2% to at least 3.5% by 2020, and that will likely push up short- and long-term interest rates as well as the US dollar,” Roubini said, predicting a major financial crisis by 2020.
If a financial crisis is to occur by the end of 2020 as predicted by many economists in the US primarily due to the overly high-interest rate set forth by the Federal Reserve, then the US dollar could drop substantially in value and open up investors to stores of value such as gold and cryptocurrencies whose value is not dependent of the global economy.
Vinny Lingham, the founder of Civic and a partner at Multicoin Capital, said that more wealth would be created in crypto in the next 10 years than the past ten years, despite several large corrections the market faced and will continue to experience in the years to come.
“More wealth will be created in crypto over the next 10 years, than over the prior 10 years. But remember, like any success story, it’s not going to be a straight line up. Keep believing and just be patient.”
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