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A number of experts have already warned of a looming financial crisis due to the money printing activities of various governments worldwide. Equity Management Associates managing partner Lawrence Lepard believes that this crisis could push Bitcoin (BTC) and gold to new record highs as these assets are set to become increasingly popular as a hedge against the incoming inflation.
In an interview with Kitco News editor-in-chief Michelle Makori, Lepard said that hyperinflation is about to happen. “We've reached peak debt and peak money printing as a solution to our problems. The growth of the money supply has almost gone vertical,” Lepard said. “And this is how inflation, which could become hyperinflation, gets started.”
Given such a scenario, the executive predicted that the U.S. dollar will likely collapse. This happens when people lose trust in fiat currencies.
“The existing dollar will be dead in ten years' time. It will be completely worthless. Within a decade, this monetary system will have failed,” Lepard explained. “When we get to the point where inflation is just raging, which is where I believe we are headed, people are going say this monetary system does not work. All fiat money eventually returns to its intrinsic value, which is zero.”
The devaluation of the dollar could set the stage for the rise in both Bitcoin (BTC) and gold. Lepard said both assets could be the ultimate winners as investors will likely include them in their portfolios.
“If you go back and you look at the old monetary ratios, gold should easily be $10,000 right now,” he explained. “If you look at bitcoin, it could easily be $200,000 right now,” Lepard added that BTC could reach $150,000 in one year.
He also mentioned a few assets that will likely retain their values despite inflation. These include houses, gold and silver coins, gold and silver mining stocks. “Bitcoin is an emerging form of sound money,” Lepard said. “You need to move some of your assets into something that provides you with inflation protection.”
