CryptoMediaClub
Friday, October 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Crypto Biz: Hyperinflation and Bitcoin wagers, AI replacing first jobs and more

06.05.2023
A A
0
135
VIEWS
ShareShare

United States inflation and how it might affect the price of Bitcoin (BTC) are two of the top concerns on investors’ minds around the world. To illustrate, one prominent crypto personality bet big bucks on the future of the U.S. economy: the former Coinbase executive recently paid out $1.5 million to settle a Twitter wager about possible hyperinflation in the American economy.

The U.S. may not be experiencing hyperinflation, but the possibility of prices going out of control seems to concern the Federal Reserve. The Fed raised interest rates by a quarter-point on May 3 — to the highest level in 16 years — pushing the target range for its benchmark from 5% to 5.25%.

As inflation pressures continue, Bitcoin is still seen as a safe haven for many, with crypto firms weighing on the digital currency to fight back inflation and turmoil in mainstream finance.

This week’s Crypto Biz explores the latest wild wager on Bitcoin prices, inflation fears and the jobs that artificial intelligence may soon replace.

Balaji pays out his crazy $1 million Bitcoin bet, 97% under price target

A closely watched wager between former Coinbase chief technology officer Balaji Srinivasan and pseudonymous Twitter user James Medlock has been closed, with Srinivasan paying $1.5 million to settle. The wager commenced on March 17 when Medlock offered to bet anyone $1 million that the United States would not experience hyperinflation. A few hours later, the former Coinbase executive accepted the bet, claiming that an impending crisis would lead to the deflation of the U.S. dollar and, thus, to a hyperinflation scenario, taking the BTC price to $1 million. As part of the deal, Srinivasan paid Medlock $500,000, donated $500,000 to Bitcoin core developers and gave an additional $500,000 to the nonprofit charity, Give Directly.

I just burned a million to tell you they're printing trillions. pic.twitter.com/pX5622rjUO

— Balaji (@balajis) May 2, 2023

MicroStrategy’s Bitcoin conviction ‘strong’ as it posts Q1 profit

The Bitcoin investment strategy is as strong as ever at business intelligence platform MicroStrategy after the company posted its first quarterly profit since 2020. The firm returned to the green with a profit of $94 million, primarily attributed to a one-time income tax benefit of $453.2 million. The firm further reduced its leverage by repaying a $161 million Bitcoin-backed loan from the now-collapsed Silverage Bank. The quarterly results were also impacted by a revenue rise of 2.2% from last year to $121.9 million. MicroStrategy’s CEO Phong Lee said the firm would continue to execute its dual strategy of growing business intelligence software and acquiring Bitcoin. The firm believes its Bitcoin thesis is a “pretty good way to outperform the market.”

Since @MicroStrategy adopted a #Bitcoin Strategy: pic.twitter.com/rrYTbvOkUS

— Michael Saylor⚡️ (@saylor) May 1, 2023

Coinbase stock will be ‘weighed down’ until US rules are clear: Citi

Coinbase’s stock price will continue to be “weighed down” until regulators establish the legal “rules of the road” in the United States, Citi analysts say. The bank downgraded shares of the crypto exchange from “buy” to “neutral” and lowered its price target, citing “too many unknowns” as the company battles it out with regulators. However, bearish sentiment on Coinbase’s stock is not stopping investment firm ARK Invest from increasing its exposure to the crypto exchange. ARK purchased 168,869 Coinbase shares for its exchange-traded funds on May 1, worth nearly $8.5 million. In April, ARK bagged 304,300 shares worth $17.5 million. Previously, the firm bought 2.4 million shares in March for about $117 million.

Citi's analysis was published prior to Coinbase's Q1 earnings report released on May 4.

7,800 jobs at IBM could be replaced by AI within years, CEO suggests

IBM is expecting to put a “pause” on hiring for “back-office” roles that could be potentially automated by artificial intelligence instead. According to the company CEO, Arvind Krishna, back-office positions, such as those in human resources and accounting departments, will likely be the first to be automated by AI. Nearly 30% of these positions will “easily” be replaced by AI over five years, claimed Krishna in an interview. IBM employs 282,000 employees globally, according to LinkedIn data. Non-customer-facing staff sits at nearly 26,000.

Dropbox: Laying off 500 people and replacing them with AI
IBM: Pausing hiring for ~7,800 roles that could be done by AI
AI is already replacing jobs

— Genevieve Roch-Decter, CFA (@GRDecter) May 1, 2023

Before you go: The average person’s wealth will be ‘completely destroyed by inflation,' says Arthur Hayes

The majority of people will have their wealth progressively eaten away by the devaluation of money, according to Arthur Hayes, co-founder and former CEO of crypto derivatives exchange BitMEX. He believes the world’s largest economies will be forced to inflate away the sizeable public debt accumulated in the past years through money printing. With long-term inflation on the horizon, Hayes’s investment thesis focuses on preserving wealth through investing in digital assets. You can watch his exclusive interview with Cointelegraph on our YouTube channel.

Crypto Biz is your weekly pulse of the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

Share10Tweet7ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post
Argentina’s central bank halts cryptocurrencies from payment apps

Argentina's central bank halts cryptocurrencies from payment apps

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin price surge sees significant asset outflow on crypto exchanges

Bitcoin price surge sees significant asset outflow on crypto exchanges

2 years ago
Ripple exec predicts crypto landscape shifts in 2024

Ripple exec predicts crypto landscape shifts in 2024

2 years ago
Chinese police to crack down on crypto and deepfake AI

Chinese police to crack down on crypto and deepfake AI

2 years ago
Gary Gensler links crypto with cash in viral 2018 video — Crypto Twitter reacts

Gary Gensler links crypto with cash in viral 2018 video — Crypto Twitter reacts

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

Why Is Crypto Up Today? – October 3, 2025

NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Trending

Record $300B stablecoin liquidity ready to fund Bitcoin and Ethereum purchases
Analysis

Record $300B stablecoin liquidity ready to fund Bitcoin and Ethereum purchases

03.10.2025
0

The stablecoin market has crossed a landmark $300 billion capitalization, reflecting its growing role as the connective...

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?

03.10.2025
Bitcoin above $120k: Here’s 3 data points bulls must watch next

Bitcoin above $120k: Here’s 3 data points bulls must watch next

03.10.2025
US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

03.10.2025
Why Is Crypto Up Today? – October 3, 2025

Why Is Crypto Up Today? – October 3, 2025

03.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz