Entrepreneur and cryptocurrency market commentator Anthony Pompliano projected Bitcoin BTC/USD to soar to a gazillion Monday, driven by massive money printing in a heated economy.
What Happened: Pompliano took to X, reading between the lines of a Truth Social post by President Donald Trump.
“For all cost-cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don't go too crazy! We will make it all up, times 10, with GROWTH, more than ever before,” Trump wrote.
Pompliano viewed it as a shift away from the administration’s cost-cutting measures and toward more growth-focused policies.
“The only way to accelerate growth is to innovate and to print money and we’re going to do both of them,” Pompliano said.
He went on to say that high money printing would heat the economy and send assets priced in dollars skyrocketing, with Bitcoin going to “a gazillion dollars.”
Why It Matters: Pompliano’s prediction aligns with his previous statements on Bitcoin’s value surge as a response to increasing debt and inflation concerns. In May, he said that the market is pricing in “tough times” ahead, boosting Bitcoin’s appeal as an attractive safe haven.
Arthur Hayes, Chief Investment Officer of Maelstrom and co-founder of BitMEX, also maintained his optimistic Bitcoin price target in a recent interview, citing what he projected to be billions of dollars in fiat liquidity injection.
Pompliano has been a vocal advocate of Bitcoin. Last week, he launched a Bitcoin treasury company, ProCap BTC, LLC, which has already purchased 4,932 BTC, worth $528 million at current prices.
Price Action: At the time of writing, Bitcoin was exchanging hands at $107,215.36, down 1.18% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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