GrayScale executives: "Unsustainable" U.S. government budget deficits and inflation mean more demand for Bitcoin

ChainCatcher news, according to Cointelegraph, Grayscale's Managing Director of Research Zach Pandl stated in an interview that due to the U.S. government's continued excessive spending and high interest rates, value storage assets like Bitcoin will continue to be in high demand.

Pandl said, "We expect that persistent inflation and unsustainable budget deficits will drive continued demand for value storage assets such as Bitcoin." Pandl believes that given the current high inflation rate, the Federal Reserve is unlikely to lower interest rates in the near term. However, upcoming events, such as the Bitcoin halving scheduled for April 20, along with accelerating economic growth and greater adoption of cryptocurrencies, will drive Bitcoin's price upward.

Previously, it was reported that the U.S. March unadjusted CPI year-on-year was 3.5%, and the core CPI was 3.8%, both higher than expected.