Macro guru and investment legend Luke Gromen is very bullish about the Bitcoin price. So much so that he sees a price of $500,000 for this year as a serious possibility for Bitcoin?
And why? Because the US government will turn on the money printer for specific reasons.
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The return of the money printer
In a new interview on the Julia La Roche Show, Gromen says he is “very confident” that America will weaken the dollar this year.
Why? In an effort to revive the defense industry.
According to Gromen, America realized after the loss to Russia in Ukraine that national security is at stake. For that reason, the Defense Department may now be willing to devalue the dollar to restore America’s ability to produce weapons.
Based on that, Gromen expects that the money printers will be running at full speed in the United States, paying for all the labor and materials required for that greater purpose.
What does that mean for Bitcoin?
For Bitcoin, this means the jackpot, according to Gromen. He predicts a huge influx of new capital, much of which will find its way into Bitcoin.
“They’re going to pay to make it happen, and they’re not going to let bond yields rise to stop that. And so the money will ultimately flow into shares, Bitcoin and gold,” says Luke Gromen.
He adds that Bitcoin is likely to be the big winner: “The S&P 500 is likely to double, Bitcoin is likely to jump 5x, and gold 2x to 4x.”
This all sounds very tempting, of course, and Luke Gromen is a fantastic analyst, but remember that this is a screenplay. All kinds of things are possible, and Gromen’s idea is also at odds with the austerity club of Elon Musk and Donald Trump.
In that respect, we still have to see whether America will really throw money around.
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Source: https://newsbit.nl/macro-guru-zo-kan-bitcoin-naar-500-000-stijgen-dit-jaar/
