Israel orders evacuations in northern Gaza as Trump calls for war to end

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By Nidal Al-Mughrabi Reuters  The Israeli military ordered Palestinians to evacuate areas in northern Gaza on Sunday before intensified fighting against  Hamas , as U.S. President Donald Trump called for an end to the  war  amid renewed efforts to broker a ceasefire. “Make the deal in Gaza, get the hostages back,”  Trump  posted on his Truth Social platform early on Sunday. Israeli Prime Minister Benjamin Netanyahu was due to hold talks later in the day on the progress of Israel’s offensive. A senior security official said the military will tell him the campaign is close to reaching its objectives, and warn that expanding fighting to new areas in Gaza may endanger the remaining Israeli hostages. But in a statement posted on X and text messages sent to many residents, the military urged people in northern parts of the enclave to head south towards the Al-Mawasi area in Khan Younis, which Israel designated as a humanitarian area. Palestinian and U.N. offi...
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Renowned Economist Says Bitcoin Price Will Reach $10 Million On The Back Of This Catastrophic Event

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Chief economist and global strategist, Peter Schiff has made a startling prediction regarding Bitcoin, albeit with a condition. The popular economist has revealed that BTC could potentially achieve a monumental price value of $10 million if the United States dollar depreciates due to hyperinflation. 

Bitcoin To Surge $10 Million If Dollar Collapses

In a recent X (formerly Twitter) post, a crypto investor raised the question of Bitcoin potentially skyrocketing to $10,000,000 by 2031. Responding to the inquiry, Schiff acknowledged the possibility of such a scenario, however, only if the US dollar experienced a similar hyperinflation event as the German Papiermark. 

The German Papiermark was the official currency of Germany in 1914 when the country’s gold standards were terminated. Due to hyperinflation, the currency depreciated significantly, causing millions of citizens to go bankrupt and forcing the government to opt for a different currency. 

This hypothetical scenario implies that BTC’S value would be seen as a hedge against currency devaluation. Schiff believes that presently, Bitcoin has no tangible value beyond its positive sentiment amongst millions of crypto enthusiasts and investors. However, due to its decentralized nature and its overwhelming market capitalization of over $818 billion, Bitcoin is positioned to be a store of value in times of economic uncertainty.

Bitcoin price chart from Tradingview.com

Crypto Community Reacts To Schiff’s BTC And Gold Comparison

In a post on X, Schiff compared Bitcoin’s value with that of gold. The financial strategist revealed that BTC investors have always maintained a steadfast belief in the cryptocurrency’s ability to outperform gold. 

He explained his statement using a hypothetical scenario where BTC declines to $10,000 in 2031 and gold climbs to $10,000. According to Schiff, irrespective of gold’s surge to the theoretical all-time high, Bitcoin proponents would still claim that “Bitcoin is up 100x in the past 20 years, while gold is up only 5x.”

The analyst’s view of Bitcoin was met with different levels of criticism from crypto commentators and investors. One crypto community member declared that when BTC potentially surpasses gold’s current market capitalization of over $13 trillion, then gold would be demonetized to its industrial utility cost.

Another crypto community member called out Schiff on his comparison of Bitcoin and gold. The crypto enthusiast revealed that back in 2011, when gold was worth $2,000 and BTC was $10, Schiff had predicted BTC’S decline, advocating for people to invest in gold because Bitcoin was supposedly going to zero. Now, 13 years later, gold remains at $2,000, and Bitcoin has surged to $40,000.



from Bitcoinist.com https://ift.tt/G3IjgX5

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