He also comments on the numerous suggestions to defund the police in the US, while the Binance CEO mentions the negative 2020 events as being beneficial for Bitcoin growth and wider BTC adoption.
‘The stage is now set for a dollar crash’
Peter Schiff has taken to Twitter to share some more negative thoughts on the current economic situation and the civil unrest in the US.
In particular, he has once again shared his skeptical take on the future of the USD. Schiff has expressed the root of his doubts many times and is not the only expert who has these beliefs. They stem from the fact that the Fed has printed over six trillion USD in this recent crisis caused by the pandemic that originated in China and quickly spread to major European and Asian countries and led to a quarantine.
Speaking on the injection of newly printed USD into the economy, Schiff said that after the Fed happily satisfied the demands for USD, the result was “a glut of U.S. dollars that no one needs or wants.”
Schiff summarized that the situation could lead to a crash of the dollar.
Like many, including Peter Schiff in his earlier tweets, CZ expects hyperinflation to break out and big trouble for small retail businesses. But, it seems he reckons it will be good for the flagship cryptocurrency.
- Source, u.today
