Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Strike CEO Predicts $1 Million BTC Amid COVID-Level Money Printing

Strike CEO Predicts $1 Million BTC Amid COVID-Level Money Printing

Cryptopotato2024/04/26 20:16
By: Andrew ThrouvalasMore posts by this author
BTC-0.39%RSR-1.04%ARK-0.80%
Bitcoin is bound to explode in value as the central bank resorts to money printing to save U.S. bonds, Jack Mallers claims.

Bitcoin could be headed to $1 million after a tsunami of newly printed cash drives up all asset prices, according to Strike CEO Jack Mallers.

The executive, whose payments app lets people remit fiat currency around the world on Bitcoin rails, said in a Friday interview that money printing will be required to bail out the U.S. bond market, which he claims is “in trouble for the first time in modern financial history.”

A Recipe For Money Printing

According to Mallers, the U.S. government and the Federal Reserve have two options: either let the banking system fail, or print their way out of the mess.

“I think historically, governments and empires have picked inflation running hot,” he said. “I expect inflation to run hot, and the currency to be debased.”

The CEO claimed that the entire banking system is “insolvent,” including JPMorgan and Bank of America.

In March 2023, institutions like Silicon Valley Bank collapsed after experiencing a run on withdrawals. The collapse was spurred by revelations that they’d realized a massive loss on their underwater long-term bonds, which plummeted in value after the Federal Reserve began hiking interest rates the year prior.

“The central banks and government is going to try and save that market,” Mallers argued. The liquidity required for the rescue may equal “two or three Covids,” he said, which would boost asset prices as a byproduct.

How Bitcoin Hits $1 Million Per Coin

“I think $250,000 to $1,000,000 is the imagination I have, in that range, of just how big (Bitcoin) can get,” he added.

Mallers’ predictions echo those of BitMEX co-founder Arthur Hayes, who regularly writes about the precarious tension between inflation and government debt. At Token2049 this month, the essayist claimed that Bitcoin will surge well past $100,000 this cycle , as real interest rates continue to trend negative relative U.S. GDP.

Other industry leaders with price predictions surpassing $1 million include Jan3 CEO Samson Mow , and Ark Invest CEO Cathie Wood .

You Might Also Like:

  • Bitcoin Miners' Reserves Plummet to April 2021 Lows Amid Profit-Taking and BTC Price Decline
  • Bitcoin's Price Explodes Above $51K, Adding $1500 in Hours
  • Bitcoin Drops Below $60,000 Triggering $215 Million In Liquidations
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

CandyBomb x ZBT: Trade futures to share 100,000 ZBT!
Bitget Announcement2025/10/17 13:30
Bitget Builder+ Initiative is now recruiting!
Bitget Announcement2025/10/17 11:00

Trending news

More
1
CandyBomb x ZBT: Trade futures to share 100,000 ZBT!
2
Bitget Builder+ Initiative is now recruiting!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$107,104.8
+0.33%
Ethereum
Ethereum
ETH
$3,882.79
+1.11%
Tether USDt
Tether USDt
USDT
$1
-0.03%
BNB
BNB
BNB
$1,089.02
+0.96%
XRP
XRP
XRP
$2.35
+1.72%
Solana
Solana
SOL
$186.58
+1.90%
USDC
USDC
USDC
$0.9998
-0.03%
TRON
TRON
TRX
$0.3132
+0.92%
Dogecoin
Dogecoin
DOGE
$0.1891
+1.76%
Cardano
Cardano
ADA
$0.6327
+0.74%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter