Strike CEO Predicts $1 Million BTC Amid COVID-Level Money Printing
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 .
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.
You may also like
Trump administration walks back tariff ‘exemption’ on electronics
Trump says he’s “flexible” on electronic tariffs, and that more developments are “coming up”
Charles Hoskinson Weighs in: Is Bitcoin Surging to $250K?
Unpacking Charles Hoskinson's Bold Bitcoin Prediction in Light of Current Market Trends

Market Insights: Short-Term Recovery Signals for BONK, ALCH, and Bitcoin
In Brief Analyst Pseudonym identifies recovery signals in BONK, ALCH, and Bitcoin. Short-term trading strategies recommended for cautious positions. Increasing interest in meme tokens amid market volatility.

Ethereum Price Fluctuations Ignite Technical Analysis and Strategic Forecasts
In Brief Ethereum's price fluctuations shift focus to technical indicators among market players. Analysts signal potential recovery and long-term growth opportunities for Ethereum. Competition from networks like Solana raises challenges for Ethereum's market position.

Trending news
MoreCrypto prices
More








