According to a recent Forbes report, global wartime inflation could trigger a massive $1 million bitcoin price bull run, which would also push up the prices of other major cryptocurrencies like XRP.
The report quotes legendary bitcoin and crypto trader and co-founder of BitMex Arthur Hayes, who says “America’s military budget is set to truly explode” due to the potential for escalation in the war between Israel and Hamas (Palestine) in Gaza. This would increase future government borrowing and lead to a spike in inflation.
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Hayes argues that if long-term U.S. Treasury bonds offer no safety for investors, then their money will seek out alternatives. Gold and Bitcoin, in particular, would begin rising on true fears of global wartime inflation.
The Forbes report also notes that the $25 trillion U.S. government bond market has suffered from extreme volatility in recent weeks, sparking panic on Wall Street as yields on 10-year U.S. Treasury notes topped 5% for the first time in 16 years.
In this environment, Hayes believes that the Fed will eventually be forced to end all pretense that the U.S. Treasury market is free and begin fixing the level of interest at politically expedient levels. Once everyone realizes this, the Bitcoin and crypto bull market will be in full swing.
While the report acknowledges that other market watchers are eyeing next week’s Federal Reserve Federal Open Market Committee (FOMC) interest rate meeting, it argues that the potential for global wartime inflation is a more significant long-term factor that could drive the prices of Bitcoin and other cryptocurrencies to new highs.
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Implications for XRP
If Hayes’s predictions come true, it would be very bullish for XRP, which is already one of the most popular and widely used cryptocurrencies in the world.
XRP is uniquely positioned to benefit from global wartime inflation because it is a fast, secure, and scalable digital asset that can be used to send and receive payments across borders at low cost.
In addition, XRP is already being used by many financial institutions and payment processors, which would make it easy for businesses and individuals to adopt XRP if global wartime inflation does indeed materialize. In addition to this, the Chair of the Federal Reserve recently made a statement that could send the crypto market surging.
The Forbes report paints a positive picture for the XRP community, as it suggests that the cryptocurrency has the potential to surge in value in the coming months and years with wartime inflation.
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