Michael Saylor: US Inflation is +9.1%, It’s Only a Matter of Time Before The World Discovers 1 BTC = 1 BTC.

Abstract:

• Michael Saylor has identified that the US greenback continues to achieve worth as annual inflation has hit 9.1%.
• He provides that different international currencies proceed to weaken towards the USD, and it is just a matter of time earlier than the world discovers that one Bitcoin will at all times be equal to at least one Bitcoin.

MicroStrategy CEO and Bitcoin perma-bull Michael Saylor has identified that the US greenback continues to achieve worth towards different international currencies regardless of the speed of inflation being on the highest it has been in 40 years at 9,1%.

Consequently, in keeping with Mr. Saylor, it is just a matter of time earlier than the world discovers that one bitcoin will at all times be equal to at least one bitcoin, hinting that BTC is the most effective hedge towards inflation and weakening currencies. He explained:

Annual Inflation in USD CPI is +9.1%, Different currencies proceed to weaken towards the greenback: YoY USDAUD is +10%, USDGBP is +16%, USDEUR is +17%, USDJPY is +24%, USDTRY is +102%.

It’s only a matter of time earlier than the world discovers 1 BTC= 1 BTC.

Tackling Inflation is My Prime Precedence – President Biden.

As earlier talked about, the annual inflation has hit a brand new 40-year excessive of 9.1%. As quickly because the CPI information was introduced, President Biden launched an announcement declaring that inflation is ‘unacceptably excessive.’ He additionally added that he was prepared to deal with inflation. He said:

Tackling inflation is my prime precedence – we have to make extra progress, extra rapidly, in getting value will increase underneath management. Here’s what I’ll do:

First, I’ll proceed to do every thing I can to carry down the worth of gasoline…

Second, I’ll urge Congress to behave, this month, on laws to scale back the price of on a regular basis bills which might be hitting American households, from prescribed drugs to utility payments to medical insurance premiums and to make extra in America.

Third, I’ll proceed to oppose any efforts by Republicans – as they’ve proposed throughout this marketing campaign yr — to make issues worse by elevating taxes on working folks, or placing Social Safety and Medicare on the chopping block each 5 years.

Lastly, I’ll proceed to provide the Federal Reserve the room it wants to assist it fight inflation.

Bitcoin Holds $19k on President Biden’s Remarks.

President Biden acknowledging inflation and promising to deal with it might be the principle motive the normal and crypto markets haven’t dumped as anticipated on account of a record-high 9.1% annual inflation.

On the time of writing, Bitcoin is buying and selling at $19.8k after a quick dip to $18,910 as a result of excessive CPI information. From the every day BTC/USDT chart under, it may be noticed that Bitcoin continues to commerce in bear territory under the 200-week shifting common (crimson), 50-day MA (white), 100-day MA (yellow), and 200-day MA (inexperienced).

Nonetheless, the assertion by President Biden might present the boldness required for Bitcoin to reclaim not less than the 200-week shifting common on the $22,500 value space within the days or even weeks forward. This forecast can also be solely tied to the normal markets experiencing a restoration of their very own on account of President Biden’s dedication to preventing inflation.