Former Coinbase chief technology officer Balaji Srinivasan is predicting that the US government will cut off access to Bitcoin (BTC) in response to the “banking crisis.”
In a new interview on the Bankless podcast, Srinivasan predicts that a lot of US fiat banks “will go to zero” and the US government will try to stop people from exiting the financial system.
[adinserter block="1"]“Can enough people get to the Bitcoin exit in time before they close the exits… Because they shut down Silvergate… SVB, First Republic, Signature.”
Srinivasan, however, predicts that Bitcoin “will be protected by enough governments” around the world.
Last week, the former Coinbase CTO made waves in the crypto world after placing a million-dollar bet that Bitcoin will skyrocket to $1 million in just 90 days. BTC is trading at $27,380 at time of writing.
Srinivasan also thinks the US dollar is about to implode into a period of hyperinflation mirroring the state of Weimar marks following the defeat of Germany in World War I.
In 1923, the Weimar marks collapsed and witnessed its value plummet to one trillionth of the US dollar.
Srinivasan believes the world will witness massive changes this year catalyzed by the devaluation of the dollar.
“This year may be one for the books…
The devaluation of the dollar.
The rise of Bitcoin.
The global flippening to the East.
Even for someone who was thinking about these trends, the pace of change will feel shockingly, disorientingly fast. It reminds me a bit of the early 1900s. In 1910, you still had nine royals meeting.
The old world of princes was still around and seemingly immortal. But under the surface, technology had changed everything. And the 20th century roared into existence a few years later.”
I
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