Balaji Srinivasan Warns US Government Will Cut Access to Bitcoin (BTC) as Banking Crisis Deepens
Former Coinbase CTO Balaji Srinivasan predicts that the US government will cut off access to Bitcoin (BTC) in response to the “banking crisis.”
In a new interview on the Bankless podcast, Srinivasan predicts that many US fiat banks “will go to zero” and the US government will try to stop people from leaving the financial system.
“Can people get to the Bitcoin exit in time before they close the exits… Because they are closing Silvergate… SVB, First Republic, Signature.”
However, Srinivasan predicts that Bitcoin “will be protected by enough governments” around the world.
Last week, the former Coinbase CTO made waves in the crypto world after placing a million dollar bet that Bitcoin will skyrocket to $1 million in just 90 days. BTC is trading at $27,380 at the time of writing.
Srinivasan also believes that the US dollar is about to implode into a period of hyperinflation that mirrors the state of the Weimar Marks after Germany’s defeat in World War I.
In 1923, the Weimar marks collapsed and saw their value plummet to a trillionth of a US dollar.
Srinivasan believes the world will witness massive changes this year catalyzed by the devaluation of the dollar.
“This year could be one for the books…
The devaluation of the dollar.
The rise of Bitcoin.
The global turn to the East.
Even for someone who thought about these trends, the pace of change will feel shockingly, disorientingly fast. It reminds me a bit of the early 20th century. In 1910 you still had nine royal meetings.
The old prince’s world was still around and seemingly immortal. But beneath the surface, technology had changed everything. And the 20th century came into being a few years later.”
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