BITCOIN

Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. economy in an interview with CNBC Wednesday. Comparing the current market condition to one in December 2018, he said: “This reminds me a lot of 2018, December, when the Fed had this idea of one last [interest rate] hike and, of course, it sent the market into a tailspin, and they had to reverse it soon after.” Noting that “information has changed dramatically” in a short period of time, he explained: The commodity market is telling you, the oil market is telling you that we are heading into a recession. We are going to have a credit crunch in the U.S. and globally. Novogratz stressed that Federal Reserve Chairman Jerome Powell “should pause and will b...

Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any effect will be more than offset by the Fed’s quantitative easing. Peter Schiff’s Financial Crisis Warning Economist and gold bug Peter Schiff shared his outlook for the U.S. economy in a series of tweets this week. He explained that when the government “imposed lots of new banking regulations after the 2008 financial crisis, we were assured that what is happening right now would never happen again.” However, he argued: One reason we had the 2008 financial crisis was too much government regulation. That’s why this crisis will be worse. “This time it’s different. When the 2008 financial crisis started, the dollar rose and gold fell. This time it’s the reverse … That’s because investors are realizing the high inflation that should’ve hit ten years ago will hit even harder now!” the economist opined. “The Fed caused the ...

Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and wealth seizure.” Balaji Srinivasan: Hyperinflation Is Here Venture capitalist Balaji Srinivasan believes that hyperinflation is happening now. Srinivasan is an angel investor, tech founder, and a Wall Street Journal bestselling author. He formerly served as the CTO of crypto exchange Coinbase and was a general partner at venture capital firm Andreessen Horowitz (A16z). Commenting on a tweet made by former Twitter CEO Jack Dorsey in October 2021 stating that hyperinflation will happen “soon” and will “change everything,” Srinivasan tweeted Friday, “Jack is right.” He emphasized: Hyperinflation is happening — now. The angel i...