Revisiting Dorsey’s Hyperinflation Tweet: Elon, Wood, Saylor, Balaji, Chip In

When the Square mastermind declared hyperinflation was coming to the US, the world shacked. With a single tweet, Jack Dorsey lit a fire that keeps on burning. In that first article, NewsBTC compiled the first reactions to this dangerous idea. Then, we told you about Peter Schiff’s unimaginative response. Now, it’s time for the big guns. Ark Invest’s Cathie Wood answered with her deflationary theory, and Elon Musk, MicroStrategy’s Michael Saylor, and notorious financial podcaster Preston Pysh answered. Related Reading | Michael Saylor Brings The Thunder To Venezuelan Bitcoin-Only Podcast Also, entrepreneur and former Coinbase CTO, Balaji Srinivasan, threw extra logs to the fire. He was one of the first responders, offering a reward for the design of a decentralized inflation dashboard. Besides them, Wired columnist Virginia Heffernan provided the 1984-like response, and Reason magazine answered her promptly. This article is full of knowledge and interesting theories for you to ponder. Make some popcorn and enjoy the show. Hyperinflation And Cathie Wood’s Theory Of Deflation This woman doesn’t mince words. “In 2008-09, when the Fed started quantitative easing, I thought that inflation would take off. I was wrong. Instead, velocity – the rate at which money turns over per year – declined, taking away its inflationary sting. Velocity still is falling.” Is she right? Isn’t purchasing power the real victim of the ra...