In a letter to investors discharged on July 29, Pantera Capital CEO Dan Morehead noted that the United States has printed a shameful amount of money to combat the pandemic-induced business enterprise crisis.

"The United States government printed more money in June than in the foremost two centuries after its founding," Morehead wrote. "Last month the U.S. budget deficit — $864 billion — was bigger than the total debt incurred from 1776 through the end of 1979."

Morehead made it clear that Pantera Capital sees Bitcoin as the solution for the current crisis. He also contrasted the effects of money printing in recent months, to how the equivalent amount of currency had performed across centuries:

"With that for the first time trillion [USD printed] we subjugated British imperialists, bought Alaska and the Louisiana Purchase, discomfited fascism, ended the Great Depression, built the Interstate Organization, and went to the Moon."

Morehead cited the resulting splashines every bit the main reason united should "get unstylish of folding money and into Bitcoin." According to the CEO, "there is no want for pretentiousness-adjusted Book of Numbers [with Bitcoin] because at that place is no inflation/hyper-pompousness."

Going to zero

Goldbug Peter Schiff is likewise afraid close to the effects of money printing. He noted comments aside the Hot seat of the Fed, Jerome Powell, World Health Organization said this week that the Fed was using its "chockful range of tools" to respond to the pandemic: impression money, keeping interest rates close to zero, and fashioning plus purchases sure at $120 cardinal per month.

"The U.S. is about to undergo one of the greatest inflationary periods in world story," Schiff said on Twitter. "Any credibility the Fed has left volition exist curst. Federal Stockpile Notes before long won't be Worth a Continental." (Geographical region paper currency in the U.S. was at a time exchanged for Treasury Department bonds at 1% of its par value.)

Inflated prices atomic number 3 fountainhead?

Despite widespread fears terminated inflation, many a experts predict consumer prices will actually get into a period of deflation — and that's exactly what's happened in Australia this week where ABC News reported that consumer prices in the country actually dropped 1.9% in June. IT's a commemorate for deflation since the Korean War.

Withal many pundits believe the inflation is actually hidden in plus prices, rather than consumer prices, and that money printing process has underpinned the share marketplace rally in the midst of the general.

Pantera Chapiter revealed its simple investment strategy for equitation out the pandemic:

"Stay long crypto until schools/daycare open. Until then the economy won't function and money will constitute continuously printed."