The word “hyperinflation” used by the CEO of Twitter and Square is surprising
Twitter co-founder Jack Dorsey referred to US inflation through his personal account, saying things would get much worse.
The word hyperinflation used by the CEO of Twitter and Square is surprising, as we talk about a condition of rapid price increases that can destroy currencies and destroy entire economies.
“Hyperinflation is going to change everything. It’s happening,” Dorsey wrote on Twitter on Friday night.
Hyperinflation is going to change everything. It’s happening.
— jack⚡️ (@jack) October 23, 2021
Responding to user comments, Dorsey added that he sees the problem of inflation escalating around the world. “It will happen in the US soon, and so the world,” he wrote on Twitter.
It will happen in the US soon, and so the world.
— jack⚡️ (@jack) October 23, 2021
Jack Dorsey’s position after the revelations that consumer prices are approaching a 30-year high in the US, but also the growing concern that the problem could be worse than expected by the officials who formulate the economic policy.
It is characteristic, that on Friday, the chairman of the Federal Reserve, Jerome Powell acknowledged that the pressures of inflation “is likely to last longer than expected,” adding that from next year, the situation could be better.
The co-founder of one of the largest social networking platforms in the world, with 206 million active daily users, is a strong supporter of bitcoin.
In fact, he said that Square, the debit and credit card processing platform he co-founded, is considering its involvement with cryptocurrency. It already facilitates bitcoin transactions.
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