Pomp Investments’ founder says the rising US debt has helped push Bitcoin to new levels.
Anthony Pompliano, a long-time bull in the crypto market, says he believes that the crypto assets will keep rising as long as US authorities continue printing money.
I think Bitcoin will continue to rise as long as governments keep printing money. “I think that Bitcoin is going to continue to go up as long as the government keeps printing money.”
Pompliano said that investors and institutions use the digital asset more and more as an inflation-fighting tool and a way to store value. He also noted that the US debt was “out of hand.”
We were adding about $1 trillion to the debt every 100 days, which is clearly out of control…
“You have many financial institutions, corporations, and individuals who say, ‘Well, hold on, let’s buy some Bitcoin.’ So, you’ve got a limited asset, with a high demand, and this is leading to higher price.”
Bitcoin was trading at $104,607 as of the time this article is written, an increase of 3.01% in the past 24 hours, while according to US Treasury Department, the US National Debt is at $36.13 Trillion.
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The post Anthony Pompliano: Out of Control Surge in US National Debt Fueling Bitcoin Rallies may be updated as new information becomes available.
