Historically, Dorsey has come across as more of a wishy-washy stoner than a sharp business mind.
He's bought a lot of BTC, so any prediction he makes that's bullish on crypto should be treated with suspicion. I don't think he's a pump-and-dump artist like Musk, but he's still not an objective forecaster.
Also, he's either predicting something catastrophic (meaning something that would crumble the world economy) or he doesn't know the meaning of the word "hyperinflation" as most people use it[1].
For some other examples of why I don't trust Dorsey to predict anything, he also said that Bitcoin would be "the" digital currency in the near future (before 2028, but perhaps sooner)[2]. If anything, it's less likely to happen because of the rise of stablecoins.
Finally, there's a paper published recently[3][4] finding that, over the last 10 years, professionals (economists and businesses) were "substantially" better at inflation predictions than consumers.
Most economists expect inflation to peak something before the end of this year, and next year to have high-but-not-dangerous[5] inflation.
This makes sense if the cause of currently high inflation is supply-chain problems, which we have no reason to doubt so far.
He's bought a lot of BTC, so any prediction he makes that's bullish on crypto should be treated with suspicion. I don't think he's a pump-and-dump artist like Musk, but he's still not an objective forecaster.
Also, he's either predicting something catastrophic (meaning something that would crumble the world economy) or he doesn't know the meaning of the word "hyperinflation" as most people use it[1].
For some other examples of why I don't trust Dorsey to predict anything, he also said that Bitcoin would be "the" digital currency in the near future (before 2028, but perhaps sooner)[2]. If anything, it's less likely to happen because of the rise of stablecoins.
Finally, there's a paper published recently[3][4] finding that, over the last 10 years, professionals (economists and businesses) were "substantially" better at inflation predictions than consumers.
Most economists expect inflation to peak something before the end of this year, and next year to have high-but-not-dangerous[5] inflation.
This makes sense if the cause of currently high inflation is supply-chain problems, which we have no reason to doubt so far.
1. https://www.investopedia.com/terms/h/hyperinflation.asp
2. https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-...
3. https://www.clevelandfed.org/en/newsroom-and-events/publicat...
4. https://www.reuters.com/article/us-economy-inflation-expecta...
5. https://www.cnbc.com/2021/10/12/inflation-gauge-should-be-ho...