A group of high-profile crypto influencers believes the macroeconomic landscape is shifting in favor of bitcoin, with a potential rally following the changing global economy.
Speaking in the most recent episode of What Bitcoin Did, a group of venture capital and hedge fund partners discussed cryptocurrency’s outlook over the coming years, agreeing that global shifts in the economy would favor bitcoin.
Nic Carter, a partner at Castle Island Ventures, predicted a wave of fiat currency failures over the next two years.
He said,
What I think is likely to happen in the next 24 months is a wave of sovereign currency failures similar to the Asian financial crisis in the late ’90s, similar to the post Soviet Union, when a lot of sovereign currencies failed. You see it at times of dollar strength. You see it at times of global dislocation. It’s regional. It’s contagious.
Carter continued, saying widespread currency failure would “immiserate tens or hundreds of millions of people” and force them to turn to crypto financial rails and bitcoin.
Adamant Capital founder Tuuer Demeester criticized rampant government spending and said the debt would cripple economies within the next decade. He urged investors to be prepared for another massive bitcoin rally and to view cryptoassets as a self-directed insurance policy.
He said,
I know this maybe doesn’t sound likely because Bitcoin has kind of been moving sideways for two years, but I have a lot of conviction that we will see another massive rally that’s going to set our hair on fire. And it’s not about that. It’s the insurance policies that’s going to start paying out. That’s all that it is once we see that 10x or 100x rally.
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