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Bitcoin bull investor and businessman Max Keiser put a gloomy warning for Americans regarding upcoming inflationary situations.
On 20th March, Bloomberg Opinion Piece posted on Twitter a tweet showcasing the risky class who are earning less than approx $300K per year. Bitcoin bull Max Keiser along with Bloomberg’s recent prediction put his comment in the form of a warning stating that those who are having less than 29 bitcoin are not gonna make it. The warnings and comments came at a time when there are talks about financial situations and a tightening economy in upcoming times.
The Bloomberg opinion piece stated that Americans at the level do not spend more than 1% of their total take-home salary on oil and gas, citing the Bureau of Labor Statistics. The average weekly wage for US workers in 2021 was around $989 totals for $51,428 when annualized. That calculation means that most Americans are mostly below the calculated value by Bloomberg. But as Max Keiser puts it, is Bitcoin actually a way out?
Although with the prediction and calculations, Bloomberg also posted some tips on taking out the inflation sting. No doubt that money printing rapidly when combined with remarkably low interest rates in a very long time and a breakdown of the global supply chain together have contributed to the recent highest spike in forty years in the cost of living. Current situations of hyperinflation were usually seen as associated problems with irresponsible developing nations. But it seems like things have changed and for now, similar situations seem to be made and being faced by developed countries too and out of them, only a handful could face them as only they are prepared for it.
According to Bloomberg, budget control is a crucial factor when it comes to dealing with such issues. They suggest using public transport rather than driving and shifting from meat to eating lentils and beans. However, per their opinion, the most challenging and shocking piece of advice they give is to let a sick pet die instead of taking him for treatment.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
