Strike CEO believes the Fed is blowing up the financial system. Bullish on Bitcoin

Jack Maller expects Bitcoin to pump after the collapse of the U.S. banking system.

Following the collapse of Silicon Valley Bank (SVB) and Signature Bank, the Federal Reserve injects $300 billion into the banking sector to save the financial system.

Adding onto the event, Strike CEO Jack Maller predicted the rise of Bitcoin as the US Dollar enters a new era of persistently high inflation.

He supported his argument by stating that Bitcoin has a fixed supply of money while US Dollar has no ceiling. Investors and customers are bound to save their investments in limited and appreciating assets like Bitcoin.

He further expects a normalized USD inflation rate of 5% to 10%. The prediction is further supported by on-chain analytics firm Glassnode which has noted that key on-chain indicators have returned to the early bull market for Bitcoin.

Acc. to Glassnode, over 122,000 new Bitcoin Wallets were created each day last week and transactions reached a total of 309,500 per day indicating interest in the digital asset.

The fall of U.S. banks and further the sell-off of Swiss-based Credit Suisse has ignited interest in Bitcoin and digital assets. Banks are not considered the safest option to park funds. The only hedge is Bitcoin.

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