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#1364 Jack Mallers | Bitcoin Could Hit $1 Million This Cycle
The Pomp Podcast
Inflation Reflects Progress and Innovation
Inflation cannot be measured by a single metric but varies by product or service. A 7-8% inflation rate does not help in buying a home if real estate is escalating by 20% annually. Bitcoin up by 160% yearly signifies currency devaluation and human progress. A 2% gold inflation rate is unacceptable over 30 years, implying wealth erosion. Bitcoin not only safeguards against fiat devaluation but also captures innovation. A 160% increase indicates a leap into the future, embracing technological advancements and highlighting challenges faced by central banks.
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