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A few days before halving, scheduled for May 12, the price of Bitcoin is increasing and this is cheering for “crypto millionaire” Charlie Shrem, who said that Bitcoin is a better bet than the dollar.
“The dollar is falling,” Shrem said Thursday, April 30, during “Virtual Blockchain Week,” an event that took place between April 26 and May 2. “So it’s the people who have dollars that are fucking around,” he said, referring to the injection of the $ 2 trillion stimulus package into the United States economy.
“We have two trillion dollars in cash printed in the United States, people are starting to get all that money. Also, all of these people probably receive their unemployment benefits when they are about to return to work. […] And they don’t have to spend a lot of money sitting at home for the past few months.
Also, he said, many miners want to save their assets, but generally need to sell their Bitcoin directly to cover their operating costs. “If this selling pressure is halved now and all the new money is released to the market, what do you think will happen?”
For Shrem, this set of actions should drive the price of BTC relative to the dollar. According to him, “those who own Bitcoins now have twice the purchasing power”.
Shrem added that halving will not cause an immediate doubling of Bitcoin’s price, but will cause further recovery.
“It was an optimistic sentiment that occurred after the [último] halve, and sales pressure has lessened. There were many positive things that helped at that time and I hope we will experience that again. ”
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