Jack Mallers, CEO of Lightning Network wallet Strike, believes the US government’s mounting debt will drive Bitcoin to new heights.
Government’s Limited Options
Mallers argues that the US has no feasible way to repay its $34.578 trillion debt. He predicts that the government will resort to printing more money to meet its obligations.
Inflation and Asset Appreciation
With an increase in the money supply, Mallers expects a surplus of fiat currency to flow into assets with limited supply, such as Bitcoin. He believes that while real estate and gold will also benefit, Bitcoin’s fixed supply makes it a more attractive investment.
Bitcoin’s Future
At the time of writing, Bitcoin is trading at $70,301. Mallers’ prediction suggests that Bitcoin could continue to rise in value as the US debt crisis deepens.
