When Square’s boss Jack Dorsey talks about hyperinflation, the world listens. And Twitter reacts. Since so-called developed economies are now feeling the pain that inflation brings, the concept is in everyone’s mind. Every human has a front-row seat to witness the consequences of the United State’s relentless money printing. And, since the Dollar is still the reserve currency of the world, they’re all feeling it too.
Related Reading | Bullish For Bitcoin: US Inflation Expectation Breaks Out From Decade Long Downtrend
This is Jack Dorsey’s tweet:5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Hyperinflation is going to change everything. It’s happening.
— jack⚡️ (@jack) October 23, 2021
As you can see, he doesn’t merely talk about inflation. He goes for “hyperinflation,” which caused adverse reactions in the replies and the quoted tweets. They accused him of fear-mongering and quoted official numbers at him. And the nay-sayers probably have a point here, because the US is far removed from the reality that word implies. However, one thing’s for sure: money printer goes brrrrrrrr… and it hasn’t stopped working since Covid hit.
Negative And Moderate Reactions To Jack Dorsey‘s Tweet
This is an example of an unnecessarily insulting response from a traditional finance person.Get 110 USDT Futures Bonus for FREE!
2/ step back and it’s disturbing that a lot of most powerful financial figures/oligarchs are invested, literally and figuratively, in various huckster schemes and libertarianish fantasies of state and civilizations collapse.
— Josh Marshall (@joshtpm) October 23, 2021
This man has obviously not done his homework regarding Bitcoin, so his argument is invalid. And doesn’t require a response. Plus, he’s being insulting to get attention, which he got. So, good for him and his dopamine levels. Let’s hope he has fun staying poor.
This is a Venezuelan economist with a moderate answer to Jack Dorsey.
I don't think it will. But it doesn't need to happen for things to get ugly. https://t.co/Cj85mJ8o7x
— Eduardo Gavotti (@EduardoGavotti) October 23, 2021
Since Venezuelans have first-hand experience with hyperinflation, let’s take what he says into account. The US is just feeling what inflation does. So-called developing economies live with that concept on their backs every second of every day.BTC price chart for 10/23/2021 on Bitstamp | Source: BTC/USD on TradingView.com
Informative Reactions To Jack Dorsey’s Tweet
The Human Rights Foundation’s Alex Gladstein, a notorious Bitcoin maximalist, had this to say to Jack Dorsey.
Those shocked by this tweet live in a bubble of financial privilege.
*1.3 billion* live under double, triple, or quadruple-digit inflation: Turkey, Nigeria, Ethiopia, Iran, Lebanon, Venezuela, Cuba, Sudan, and beyond.
It’s already one of the world’s biggest humanitarian crises. https://t.co/P83opDagdu
— Alex Gladstein