Raoul Pal, CEO of Real Vision, and Fred Krueger, CEO of Lynx, discuss the impact of coronavirus on the economy.
COVID-19’s spread has suddenly changed our lives, and the entire global economy. It is changing supply chains as well as consumer demand. The “New normal” is likely to be restricted/closed borders and shifts in global supply chains. All this means lower wages and a higher unemployment rate. The worst of the current downturn could last 24 months or longer.
Bitcoin lost almost 50% of its value in March, but it’s upside could be 10 – 100x in an inflationary environment where gov’ts buy up corporate bonds and equities. These trends will push younger investors to be more interested in digital assets and tokenization. Older investors will be forced to sell assets and they won’t find buyers.