“Bitcoin Will Soar Up, The US Dollar Will Become An Useless Piece Of Paper”: Predictions Of Kim Dotcom
The odious entrepreneur Kim Dotcom is exulting because his forecast of the Bitcoin price movement came true, and those who bought the crypto asset two years ago were the winners. What will happen to the American dollar?
Bitcoin growth forecast came true
The well-known entrepreneur and crypto enthusiast Kim Dotcom predicted in August 2018 regarding the price of Bitcoin and a significant change in the position of traditional assets in the financial market. Then he strongly recommended diversifying assets, buying Bitcoin, and opening long positions on exchanges.
Also, Dotcom did not bypass the American dollar. Two years ago, he spoke about the possible onset of an economic collapse, which will become a point of no return for the traditional financial system. He thought that the US dollar in the context of the global crisis will lose its value and finally show its weakness and unsuitability in the context of the digitalization of the global economy.
Dotcom was sure that the currency was already out of date: the dollar would turn into a useless piece of paper, and this would be the beginning of the end for traditional assets. In 2018, his words caused violent indignation in financial circles, because the prerequisites for an economic crisis were on the horizon. Accusations of exaggerating colors and a desire to destabilize optimistic sentiments in the stock markets flew towards Dotcom. But, as it turned out, the entrepreneur was right in his forecasts.
Dotcom is sincerely exulting because the events of 2020 and the onset of the coronavirus crisis have confirmed the veracity of his words. On this occasion, he turned to his Twitter followers:
The first part of Dotcom’s prediction of an economic collapse came true; now we have to wait to see how the US dollar will show itself shortly.
How is the American dollar doing?
It seems that the US dollar is not yet going to leave the financial market, and Dotcom’s forecasts regarding the currency have not come true. Despite criticism of the FED’s policy, frightening talk of upcoming inflation and collapse in financial markets, the dollar still holds the status of a reserve currency.
Obviously that the stock markets are dominated by optimistic sentiments. The fear of a repeat of the March “Black Thursday” scenario has been left behind. Global financial markets are gradually taking the path of recovery, despite the emergence of new foci of the spread of coronavirus and the threat of a second wave of the pandemic.