The CEO of Lightning Network Strike wallet says a catalyst could trigger a surge for the king cryptocurrency that could quickly see it reach a six-figure price.
In a new interview with Fox Business, Jack Mallers says he imagines Bitcoin (BTC) will eventually be worth hundreds of thousands of dollars per coin as the US government continues to rack up debt.
“My God, this is going to cost hundreds of thousands of dollars per coin. The United States government is deeply in debt. My way of thinking about the price of Bitcoin is [it] It equals technology plus fiat liquidity, so it will increase because it is innovative technology and it is better money.
But what really triggers it at a dizzying pace is when our government is tens of trillions of dollars in debt and has to roll it over to have a lot of money to print and financial assets to skyrocket. “Bitcoin is rising the most because it is harder to get more out of it.”
According to Mallers, the government will continue printing money to prop up the economy rather than opting for a complete reset, a move that will send assets such as stocks, cryptocurrencies and gold soaring.
“[The government] has a third option, which is exclusive to [them] – they can print the money they lack, and when they print the money they lack, they are stealing from all the people who have US dollars…
The only way to save yourself is not to own dollars. And that’s when you see things like the S&P 500, gold, and Bitcoin soar. “That’s what’s going to happen in the next two years.”
Bitcoin is trading at $37,028 at the time of writing, up fractionally over the past day.
Image generated: Halfway through the trip
