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 realize worth as annual inflation has hit 9.1%.
• He provides that different international currencies proceed to weaken towards the USD, and it’s only 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 realize 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’s only 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 a press release mentioning that inflation is ‘unacceptably excessive.’ He additionally added that he was keen to sort out inflation. He said:

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

First, I’ll proceed to do all the pieces I can to convey down the value of fuel…

Second, I’ll urge Congress to behave, this month, on laws to scale back the price of on a regular basis bills which are 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 offer 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 sort out it could possibly be the primary motive the standard and crypto markets haven’t dumped as anticipated as a result of a record-high 9.1% annual inflation.

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

Nevertheless, the assertion by President Biden may present the boldness required for Bitcoin to reclaim no less than the 200-week shifting common on the $22,500 worth space within the days or even weeks forward. This forecast can also be fully tied to the standard markets experiencing a restoration of their very own as a result of President Biden’s dedication to combating inflation.