{"id":524084,"date":"2023-03-22T10:20:32","date_gmt":"2023-03-22T10:20:32","guid":{"rendered":"https:\/\/ktsl888.com\/?p=524084"},"modified":"2024-06-11T09:55:42","modified_gmt":"2024-06-11T09:55:42","slug":"hyperinflation-wont-propel-bitcoin-price-to-1-million","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/","title":{"rendered":"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US"},"content":{"rendered":"

Balaji Srinivasan, former CTO of Coinbase, grabbed a lot of attention last week with his bet<\/a> that Bitcoin will reach $1 million within the next 90 days, and also received a lot of criticism for his “unrealistic” prediction. Saifedean Ammous, one of the biggest Bitcoin bulls and author of the most successful book on the leading cryptocurrency, “The Bitcoin Standard,” has now shared his opinion<\/a> as well.<\/p>\n

Why Hyperinflation Is Unlikely In The US<\/h2>\n

Srinivasan’s bet was in response to financial expert James Medlock, who placed a $1 million bet that the United States would not enter hyperinflation despite the recent collapse of banks in the country.<\/p>\n

In a Twitter thread on March 17, Balaji stated that the current banking situation is similar to the 2008 financial crisis, but this time central bankers, banks and regulators lied to everyone. According to Srinivasan, banks saw the crash coming but were given permission by regulators to hide their literal insolvency. Hyperinflation is therefore inevitable, he concludes.<\/p>\n

According to Saifedean Ammous, however, the realities make this unlikely. “I feel dirty sounding bearish on Bitcoin, but I do not think Bitcoin will hit $1 million in 90 days & and I do not think the dollar can possibly hyperinflate this quickly,” the author wrote today.<\/p>\n

The reason, according to the proponent of the Austrian school of economics, is that a banking crisis is deflationary, even if Srinivasan is right about the extent of the banking crisis. If one bank goes bankrupt, the money supply is reduced. If all banks go bankrupt, then much of the money supply is destroyed, which would make hyperinflation less likely.<\/p>\n

Related Reading: Bitcoin Price Stalls Ahead Of FOMC Meeting, How To Trade It<\/a><\/div>\n

In addition, Ammous argues that while central banks will respond by printing money, which can lead to price inflation, a hyperinflation is highly unlikely in such a short period of time. Even if the U.S. central bank were to bail out every single bank depositor, it would only keep the money supply constant, the economist explained and said:<\/p>\n

Yes, they will likely print more than that to finance increased spending for political purposes, but you’d need an impossibly large amount of printing to bring about hyperinflation in 3 months & history provides plenty of evidence in support of that.<\/strong><\/p><\/blockquote>\n

Bitcoin Will Slowly Rise, As Will Inflation<\/h2>\n

Ammous also refutes Srinivasan’s examples of hyperinflation, which purport to show that inflation can accelerate rapidity in just 90 days. According to the economist, all hyperinflations came at the end of a prolonged period of inflation.<\/p>\n

Related Reading: Bitcoin Price Looks Ready For Another Leg Higher Over $28.5K<\/a><\/div>\n

“Even in highly dysfunctional countries with decrepit monetary & financial institutions & no global reserve currency, it takes many months and maybe even years to arrive at the point where the value of a currency drops by half in a day, which is the sort of hyperinflation needed to get to $1m \/ Bitcoin in 3 months,” the author said.<\/p>\n

Likewise, Ammous calls the example of Lebanon inapplicable, as the Lebanese lira devalued overnight after years of slowly rising inflation, “and that is what gives his chart such a huge sudden spike.”<\/p>\n

Even in a country which was massively corrupt and indebted, did not have the global reserve currency, and printed money on a scale “hard to imagine” in the United States, it took years. According to Ammous, hyperinflation in the US in three months is therefore as good as impossible, and with it a Bitcoin price of $1 million.<\/p>\n

At press time, the Bitcoin price was at $28,073; traders seemed to be cautious in light of the U.S. Federal Reserve’s interest rate decision coming up today and the new projections<\/a> (dot plot).<\/p>\n

\"Bitcoin
Bitcoin price ahead of FOMC, 1-day chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Balaji Srinivasan, former CTO of Coinbase, grabbed a lot of attention last week with his bet that Bitcoin will reach $1 million within the next 90 days, and also received a lot of criticism for his “unrealistic” prediction. Saifedean Ammous, one of the biggest Bitcoin bulls and author of the most successful book on the leading cryptocurrency, “The Bitcoin Standard,” has now shared his opinion as well. Why Hyperinflation Is Unlikely In The US Srinivasan’s bet was in response to financial expert James Medlock, who placed a $1 million bet that the United States would not enter hyperinflation despite the recent collapse of banks in the country. In a Twitter thread on March 17, Balaji stated that the current banking situation is similar to the 2008 financial crisis, but this time central bankers, banks and regulators lied to everyone. According to Srinivasan, banks saw the crash coming but were given permission by regulators to hide their literal insolvency. Hyperinflation is therefore inevitable, he concludes. According to Saifedean Ammous, however, the realities make this unlikely. “I feel dirty sounding bearish on Bitcoin, but I do not think Bitcoin will hit $1 million in 90 days & and I do not think the dollar can possibly hyperinflate this quickly,” the author wrote today. The reason, according to the proponent of the Austrian school of economics, is that a banking crisis is deflationary, even if Srinivasan is right about the extent of the banking crisis. If one bank goes bankrupt, the money supply is reduced. If all banks go bankrupt, then much of the money supply is destroyed, which would make hyperinflation less likely. Related Reading: Bitcoin Price Stalls Ahead Of FOMC Meeting, How To Trade It In addition, Ammous argues that while central banks will respond by printing money, which can lead to price inflation, a hyperinflation is highly unlikely in such a short period of time. Even if the U.S. central bank were to bail out every single bank depositor, it would only keep the money supply constant, the economist explained and said: Yes, they will likely print more than that to finance increased spending for political purposes, but you’d need an impossibly large amount of printing to bring about hyperinflation in 3 months & history provides plenty of evidence in support of that. Bitcoin Will Slowly Rise, As Will Inflation Ammous also refutes Srinivasan’s examples of hyperinflation, which purport to show that inflation can accelerate rapidity in just 90 days. According to the economist, all hyperinflations came at the end of a prolonged period of inflation. Related Reading: Bitcoin Price Looks Ready For Another Leg Higher Over $28.5K “Even in highly dysfunctional countries with decrepit monetary & financial institutions & no global reserve currency, it takes many months and maybe even years to arrive at the point where the value of a currency drops by half in a day, which is the sort of hyperinflation needed to get to $1m \/ Bitcoin in 3 months,” the author said. Likewise, Ammous calls the example of Lebanon inapplicable, as the Lebanese lira devalued overnight after years of slowly rising inflation, “and that is what gives his chart such a huge sudden spike.” Even in a country which was massively corrupt and indebted, did not have the global reserve currency, and printed money on a scale “hard to imagine” in the United States, it took years. According to Ammous, hyperinflation in the US in three months is therefore as good as impossible, and with it a Bitcoin price of $1 million. At press time, the Bitcoin price was at $28,073; traders seemed to be cautious in light of the U.S. Federal Reserve’s interest rate decision coming up today and the new projections (dot plot). Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":524092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,9552],"class_list":["post-524084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-hyperinflation"],"acf":[],"yoast_head":"\nBitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US<\/title>\n<meta name=\"description\" content=\"According to Saifedean Ammous, Bitcoin will not hit $1 million in 90 days as the dollar can't possibly hyperinflate this quickly.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US\" \/>\n<meta property=\"og:description\" content=\"According to Saifedean Ammous, Bitcoin will not hit $1 million in 90 days as the dollar can't possibly hyperinflate this quickly.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-22T10:20:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T09:55:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835\" \/>\n\t<meta property=\"og:image:width\" content=\"1257\" \/>\n\t<meta property=\"og:image:height\" content=\"835\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US\",\"datePublished\":\"2023-03-22T10:20:32+00:00\",\"dateModified\":\"2024-06-11T09:55:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/\"},\"wordCount\":651,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835\",\"keywords\":[\"bitcoin\",\"btc\",\"Hyperinflation\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/\",\"url\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/\",\"name\":\"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835\",\"datePublished\":\"2023-03-22T10:20:32+00:00\",\"dateModified\":\"2024-06-11T09:55:42+00:00\",\"description\":\"According to Saifedean Ammous, Bitcoin will not hit $1 million in 90 days as the dollar can't possibly hyperinflate this quickly.\",\"breadcrumb\":{\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage\",\"url\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835\",\"contentUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835\",\"width\":1257,\"height\":835,\"caption\":\"Bitcoin $1 million\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ktsl888.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ktsl888.com\/#website\",\"url\":\"https:\/\/ktsl888.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ktsl888.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ktsl888.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/ktsl888.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/ktsl888.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US","description":"According to Saifedean Ammous, Bitcoin will not hit $1 million in 90 days as the dollar can't possibly hyperinflate this quickly.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US","og_description":"According to Saifedean Ammous, Bitcoin will not hit $1 million in 90 days as the dollar can't possibly hyperinflate this quickly.","og_url":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-03-22T10:20:32+00:00","article_modified_time":"2024-06-11T09:55:42+00:00","og_image":[{"width":1257,"height":835,"url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835","type":"image\/jpeg"}],"author":"Jake Simmons","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#article","isPartOf":{"@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US","datePublished":"2023-03-22T10:20:32+00:00","dateModified":"2024-06-11T09:55:42+00:00","mainEntityOfPage":{"@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/"},"wordCount":651,"publisher":{"@id":"https:\/\/ktsl888.com\/#organization"},"image":{"@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835","keywords":["bitcoin","btc","Hyperinflation"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/ktsl888.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/","url":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/","name":"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US","isPartOf":{"@id":"https:\/\/ktsl888.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage"},"image":{"@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835","datePublished":"2023-03-22T10:20:32+00:00","dateModified":"2024-06-11T09:55:42+00:00","description":"According to Saifedean Ammous, Bitcoin will not hit $1 million in 90 days as the dollar can't possibly hyperinflate this quickly.","breadcrumb":{"@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#primaryimage","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835","contentUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835","width":1257,"height":835,"caption":"Bitcoin $1 million"},{"@type":"BreadcrumbList","@id":"https:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ktsl888.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US"}]},{"@type":"WebSite","@id":"https:\/\/ktsl888.com\/#website","url":"https:\/\/ktsl888.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/ktsl888.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ktsl888.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ktsl888.com\/#organization","name":"NewsBTC","url":"https:\/\/ktsl888.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US","url":"http:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/hyperinflation-wont-propel-bitcoin-price-to-1-million\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","hyperinflation"],"dateCreated":"2023-03-22T10:20:32Z","datePublished":"2023-03-22T10:20:32Z","dateModified":"2024-06-11T09:55:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin To $1 Million? Why Hyperinflation Is Unlikely In The US\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/hyperinflation-wont-propel-bitcoin-price-to-1-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/hyperinflation-wont-propel-bitcoin-price-to-1-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/iStock-1258091878.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/iStock-1258091878.jpg?fit=1257%2C835\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"hyperinflation\"],\"dateCreated\":\"2023-03-22T10:20:32Z\",\"datePublished\":\"2023-03-22T10:20:32Z\",\"dateModified\":\"2024-06-11T09:55:42Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/iStock-1258091878.jpg?fit=1257%2C835","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/524084"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=524084"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/524084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/524092"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=524084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=524084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=524084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}