Stock Groups

Twitter and Square CEO Jack Dorsey says ‘hyperinflation’ will happen soon in the U.S. and the world

Jack Dorsey, CEO of Twitter arrives in Paris at the Tech for Good Summit on May 15, 2019, France.

Charles Platiau | Reuters

Twitter founder Jack DorseyThe escalating U.S. Inflation has been discussed by many, who believe that it will only get worse.

Dorsey posted Friday night, “Hyperinflation will change everything.” It’s happening.

Tweet with consumer price inflation running near a 30-year highThere is growing concern in the U.S. that the situation could get worse than what policymakers anticipated.

Federal Reserve Chairman will be on Friday Jerome PowellThe central bank chief acknowledged the fact that inflation pressures could last “longer than expected”, noting that they may continue into next year. According to the central bank chief, he believes that the Fed will soon be able to address inflation pressures. begin pulling back on the extraordinary measuresIt has helped the economy, which critics claim have contributed to the inflation run.

Dorsey oversees the social media platform with 206 millions active users daily. He is also an avid bitcoin advocate. Square, Dorsey’s debit- and credit card processing site, has stated that it is exploring mining of the cryptocurrency. Square is also a bitcoin trading platform and owns some Bitcoin.

Dorsey replied to comments and said Friday that the problem of inflation is escalating all around the globe. Tweeted, “It’ll happen soon in the US and it will also happen around the globe.” Dorsey currently serves as the CEO and President of Twitter Square

Although it’s easy to advocate faster inflation, many people may not be aware that Dorsey also used the term hyperinflation. This refers to a rapid rise in prices which can lead to currency collapse and economic decline.

Billionaire investor Paul Tudor JonesMany have advocated for rising inflation. Jones stated earlier this week to CNBC that he has bitcoins and believes in its future. as a good inflation hedge

Crypto is a viable option. Jones stated Wednesday that crypto is clearly winning against gold.

However, the majority of major investors haven’t gone as far to advocate hyperinflation like Dorsey.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.