Hedge fund manager Bill Ackman commented on the recent Bitcoin rally on Saturday, stressing that a potential further rise of the Bitcoin price, coupled with heightened mining activity and energy use, could result in additional upward pressure on energy costs.
Ackman expressed concern that this scenario could lead to an increase in the inflation rate and a weakening of the dollar. "Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses. Maybe I should buy some Bitcoin," Ackman wrote in an X post.
As of 6:15 pm ET, Bitcoin stood at $68,562.000, up 0.40% for the day. Since the beginning of the year, the price of the world's largest crypto token surged 62.16%.