The CEO of Twitter and Square, Jack Dorsey, tweeted a warning about hyperinflation in the U.S. on Friday saying that “hyperinflation is going to change everything”.
His tweet caused a storm in replies and has so far received more than 7.4 comments and has been liked 72.3K times.
Following up on his first tweet, Dorsey later on confirmed it is not just the U.S. that can expect hyperinflation, but that we are all at risk on this planet.
Dorsey’s statement comes at a time where consumer price inflation in the U.S. is at a 30-year high and that the problem could be more concerning than though. Federal Reserve Chairman, Jerome Powell, confirmed on Friday that inflation pressures “are likely to last longer than previously expected.” He then added it can last “well into next year.”
Albeit a severe and dark outlook for the future, many people also disagreed with the Square CEO. Johns Hopkins economist Steve Hankey called Dorsey irresponsible.
And of course, MicroStrategy CEO Michael Saylor had to give his two cents by saying that Bitcoin is the solution.