Jack Dorsey pointed to signs of approaching hyperinflation that \u201cwill change everything around.\u201d He predicted that it would soon manifest itself in the United States, then in the world.<\/p>\n
That reading may have followed the latest statements by the Fed Chair Jerome Powell<\/a>.<\/p>\n The official had previously noted the temporary nature of inflation but highlighted worsening supply-chain problems, which increased his concern about inflation. Powell warned that he and his colleagues would monitor rising inflation expectations among corporations and households.<\/p>\n In September 2021, investors gave<\/a> slightly lower odds that the first tightening of monetary policy would take place at the December 14 meeting.<\/p>\n In October, JPMorgan analysts called<\/a> inflation concerns the main driver of the current Bitcoin rally.<\/p>\n In response to Dorsey\u2019s tweet, gold-bull and crypto-skeptic Peter Schiff urged people to focus on real assets such as the premier precious metal as a store of value. He rejected the idea of seeking salvation in Bitcoin.<\/p>\n Just don\u2019t expect to find any refuge from it in #Bitcoin<\/a>. To protect yourself from #hyperinflation<\/a> you\u2019ll need to own real assets. #Gold<\/a> qualifies, but Bitcoin does not.<\/p>\n \u2014 Peter Schiff (@PeterSchiff) October 24, 2021<\/a><\/p><\/blockquote>\n \n