Stock up on milk & gas as dollar about to hit zero – crypto guru
Americans should stock up on essentials and prepay their bills before the US dollar crashes in 2022, Jesse Powell, chief executive of Kraken crypto exchange, has predicted. He also sees a decline in the value of Bitcoin.
In a TV interview with Blomberg, Powell said he was wondering where the bottom was with regard to the value of the dollar, citing the soaring inflation and interest rates going negative.
He suggested that people should prepay their healthcare and tuition fees and stock up on the basics.
“I’m going to say the dollar is going to zero. You should start stocking up on gasoline and milk right now.”
He added that investors should also take on as much dollar debt as they can because “there will be a jubilee at some point.”
It’s not just the US dollar that’s going to take a beating – Bitcoin will, too. According to Powell, its price is going to fall dramatically to below $40,000 a coin, which some investors see as a buying opportunity.
Earlier this year the Kraken CEO predicted that Bitcoin could reach $100,000 by the end of the year. The world’s most popular cryptocurrency is currently trading at just over $47,000.
Kraken is a US-based crypto exchange and bank established in 2011 that supports over 90 cryptocurrencies.
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