BitcoinBTC, ethereum and the wider crypto market have rocketed this year though the price rally has stalled this week as a leaked memo revealed a secret Democrat plan for a U.S. crypto crackdown.

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The bitcoin price boom has been partly fueled by the U.S. banking crisis that thrust crypto back into the limelight and boosted the ethereum price along with top ten cryptocurrencies BNBBNB, XRPXRP, cardano, dogecoin, polygon and solana.

Now, after legendary investor Stanley Druckenmiller warned of a $200 trillion U.S. debt burden, MicroStrategyMSTR founder Michael Saylor has predicted a bitcoin "stampede" due to loss of confidence in the U.S. dollar and banking system.

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"The meltdown in banks and the meltdown of currencies is driving a stampede of smart money to bitcoin," Saylor, who has led his software company in buying 140,000 bitcoin currently worth $3.7 billion over the last three years, told YouTuber David Lin.

"If you lose confidence in the currency, the banks, then you lose confidence in fiat currency as money. And therefore the money is dying," Saylor said, pointing to the struggling economic situations in Venezuela and Argentina where inflation has spiraled to triple-digit percentages.

"If I cant trust the bank, if I cant move the money cross-border and if the currency is losing value every year or every month, then I start thinking about commodity monies," such as gold and bitcoin.

Saylor's "stampede" prediction comes hot on the heels of technology investor Balaji Srinivasan failed $1 million bitcoin price bet, who admitted he'd "burned a million to tell you they're printing trillions."

Srinivasan's $1 million bitcoin price prediction was triggered by the banking crisis that's led to some of the largest banking failures in U.S. history, with fears the collapse of Silicon Valley Bank and First Republic could cascade into PacWest and other regional banks.

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Meanwhile, the U.S. hurtling toward the first-ever U.S. debt default that could happen as soon as next month as a standoff between president Joe Biden and the Republican-controlled House of Representatives continues.

Earlier this month, billionaire investor Stanley Druckenmiller warned the official $31.4 trillion debt limit could be dwarfed by the $200 trillion debt pile once future entitlement payments are factored in.

Druckenmiller compared the debt ceiling and the fiscal spending to "worrying about whether a 30-foot wave will damage the pier when you know there's a 200-foot tsunami just 10 miles out," in a speech reported by Bloomberg.

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

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Crypto Braced For Stampede As Legendary Investor Issues $200 Trillion Warning After Wild Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And...