Bitcoin buying advised as US enters the ‘looting-the-treasury phase’
Amid rising national debt levels in the United States, influencers on X say Bitcoin is the only realistic solution to sidestep inflation.
Blue America,” he said before adding:
“Fortunately, we have Bitcoin, which isn’t dependent on the state and can’t easily be seized.”
In March 2023, Srinivasan famously bet $2 million that BTC would reach $1 million by June of that year due to hyperinflation in the United States.
Related: How much longer can indebted Americans keep buying crypto?
A large amount of economic and inflation data will be released in the U.S. this week. Figures include February’s adjusted core Consumer Price Index (CPI), February Producer Price Index (PPI) and one-year inflation rate expectations.
This week’s U.S. economic calendar. Source: @markets_bot on X
“A hot CPI inflation report this week would really set the tone of the March Fed meeting,” commented macroeconomic outlet The Kobeissi Letter.
Chicago Mercantile Exchange data shows the probability of the Federal Reserve keeping interest rates unchanged on March 20 is as high as 97%. Interest rates in the U.S. are currently 5.5%, where they have been since July 2023.
