ChainCatcher News, American hedge fund giant and founder and CEO of Pershing Square Capital Management, Bill Ackman, predicts that the price of Bitcoin could soar to levels much higher than anyone imagines.Ackman tweeted: "Imagine a scenario where the price of Bitcoin rises, leading to increased mining, increased energy usage, which in turn raises energy costs, causing inflation to rise, the dollar to devalue, driving demand for Bitcoin, increasing mining, pushing demand for energy, and so on. Bitcoin grows infinitely, energy prices skyrocket, and the economy collapses. Maybe I should buy some Bitcoin." However, Ackman later added, "Of course, the problem is that it could also work in reverse."In response, MicroStrategy founder Michael Saylor commented under Ackman's tweet: "You should buy some Bitcoin, but not for the reasons above. Most Bitcoin miners are lowering the electricity costs for other consumers, not raising them."

ChainCatcher message, renowned hedge fund manager Bill Ackman posted on social media: "The failure of Silicon Valley Bank could destroy an important long-term driver of the economy, as venture-backed companies rely on Silicon Valley Bank for loans and to hold operating cash. If private capital cannot provide a solution, a highly diluted government priority bailout plan should be considered.After seeing the Federal Reserve's actions in bailing out Bear Stearns, I don't believe any bank will step in to help Silicon Valley Bank.The government could also guarantee deposits in exchange for issuing dilution warrants and other covenants and protections. If Silicon Valley Bank is indeed solvent, this would buy time for the bank to restore its charter and raise new private capital." (source link)