Visionary and early crypto adopter Charlie Shrem says that the conditions are right for Bitcoin to kick it to another gear.
In a Virtual Blockchain appearance, the founder of crypto intelligence firm CryptoIQ explains that the quantitative easing in response to the Covid-19 pandemic would bring in new demand for the leading cryptocurrency.
“We have two trillion dollars of money printed in the United States. People are starting to get all that money. Also, all these people are getting their unemployment benefits probably when they’re about to go back to work anyways, and they haven’t been needing to spend much money while they’re sitting at home for the past few months.”
In addition, Shrem points out that the Bitcoin halving, where new supply is cut in half, is just around the corner.
“And then you have the halving where the selling pressure cuts in half all of a sudden at the end of next week… So all of a sudden that pressure is cutting in half, and now all of this money, what do you think is going to happen?”
Shrem sees the value of Bitcoin soaring as the dollar’s value plummets. He says that people holding dollars will be “screwed.”
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