Well-known Bitcoin (BTC) proponent and renowned venture capitalist Anthony Pompliano has shared his Bitcoin price prediction on social media platform X.
He predicts that the US government will face significant interest charges on the national debt, which would result in printing more dollars. This phenomenon, Pompliano argues, will have a positive effect on the price of Bitcoin in the long term.
He is convinced that these economic dynamics will inevitably lead to an increase in the value of Bitcoin.
‘The US dollar is doomed’
According to Pompliano, the dollar is doomed to failure. Since 2020, the dollar has suffered a 20% devaluation, while in the same time frame the price of Bitcoin (BTC) has risen by a whopping 800%.
According to him, this convincingly illustrates that holding dollars is not a profitable long-term strategy for maintaining purchasing power.
Moreover, the United States faces a huge interest payment – up to $1.6 trillion in December this year. According to him, this makes it likely that the Federal Reserve (FED) will continue to follow its current course of significant monetary expansion.
Pompliano predicts that the United States’ significant debt payments will result in further money creation and devaluation of the dollar.
He sees Bitcoin (BTC) as a hedge against both the decline in dollar value and its broader economic implications. According to this expert, it is only a matter of time before Bitcoin’s price returns to an upward trend, with the potential to surpass its all-time high of $73,500.
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Source: https://newsbit.nl/pompliano-waarschuwt-dollar-gedoemd-tot-devaluatie-bitcoin-biedt-uitweg/
