One of the largest cryptocurrency lending platforms in the United States, Celsius CEO recently issued some dire news for the citizens of the country. CEO Alex Mashinsky was speaking to the journalists at Kitco News. During the interview, he quotes the recent policies and monetary projections of the Federal Reserve. He claimed that there is going to be great economic pressure on the United States in the near term.
Alex Mashinsky Warns About Upcoming Economic Recession
It is worth noting that the rapidly changing geopolitical situation of the world and the trade restrictions on account of COVID platforms have started to take their toll on the global economies. Several economists are airing predictions about an upcoming economic recession in 2023. To this end, Mashinsky warned people to listen to the warnings of the Federal Reserve and start taking financial preventive measures.
The CEO of Celsius recently told the media that the people should stop resisting the Fed policies like a massive increase in interest rates. He further explained that the best way to prepare for the upcoming tough times is to dissolve the stock ownerships and start to accumulate more cryptocurrencies.
He also pointed out that since the start of the current year, the stock market has been unable to recover from the losses of last year. Talking about Bitcoin, he claimed that the top coin was able to show a faster recovery in comparison to the traditional financial markets. He further explained that Bitcoin is moving on the other side of the spectrum concerning bifurcation and dependency on the stocks and equity markets.
At one point in the interview, Mashinsky talked about the future of the financial prospects of tech and financial corporations. He pointed out that shutting out the 9th largest economy in the world, i.e., Russia, is going to send the US and EU economies into a spiral of recession. He further exclaimed that under the current circumstances, Fed is largely dependent on political leadership.
The lending platform executive also confessed that he has already sold most of his stocks, and he is betting big money on Bitcoin for the upcoming year. In addition to Bitcoin, he also showed enthusiasm about Ethereum. He also talked about the compatibility of CeFi, and TradFi with the DeFi sector. Mashinsky claimed that soon most investment options like real estate, stocks, bonds, and others would become so inflated that majority of the investors would not be able to afford them anymore. He also hinted that it is best to pick investment vehicles that are not pegged to USD. He also predicted an ATH for Bitcoin before the 2022 end.