Balaji Srinivasan – the popular venture investor and Coinbase’s former Chief Technology Officer (CTO) – believes Bitcoin Maximalism is due to gain steam as a philosophical and economic belief system.
In a Twitter post on Wednesday, the entrepreneur argued why faith in the existing financial system is bound to erode over time as the U.S. dollar inflation pushes a new generation into Bitcoin.
Unstoppable Inflation
According to the U.S. Bureau of Labor Statistics, twelve-month consumer inflation in the United States rose to 3.5% in March, now having stayed substantially higher than the nation’s 2% target for three years straight.
While the Federal Reserve has raised its policy interest rate substantially to fight higher prices, Balaji claims this method brings harsh side effects for consumers – such as higher interest payments on loans and cars.
“There’s really nothing they can do,” wrote Balaj. “High rates mean the regime is piling up interest costs in an unsustainable
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