Investor Luke Gromen drew attention to the efforts of US policymakers to weaken the dollar and stated that he believes this development could push Bitcoin to past price levels. Gromen emphasized that the US realized that the defeat it suffered against Russia in Ukraine constituted a national security crisis. He also said that the Department of Defense was willing to devalue the dollar in order to re-enforce its weapons production capacity. Gromen stated that policymakers are acting to provide resources to revive the defense industry by restarting the money printing machines. Gromen stated that the newly printed money should be directed to Bitcoin and other risky assets, and argued that Bitcoin would be the biggest winner if the government printed more money. Gromen predicts that the S&P index could double, Bitcoin could increase fivefold, and gold could increase two or threefold. Here are Gromen's predictions and other statements for the Bitcoin price...
Luke Gromen's Exciting Predictions for Bitcoin
Investor Luke Gromen said the economic winds in the US are beginning to shift and he believes conditions are emerging that could see Bitcoin reach unprecedented price levels. In a recent interview with the Julia La Roche Show, Gromen pointed to US policymakers’ aim to rebuild the defense industry, which he strongly predicts will weaken the dollar. Gromen said he realized that the US was facing a serious national security crisis after its defeat by Russia in Ukraine last month. He added that the Department of Defense was willing to devalue the dollar in order to revive American weapons production capacity.
Money Printing Move and Bitcoin
Gromen said the US government will restart the money printing machines on a large scale to strengthen the defense industry. This move is expected to affect Bitcoin, as the newly printed dollars are likely to flow into Bitcoin and other risky assets. Gromen’s statements are as follows:
“They will create a huge financial resource to do this and try to stop it before it drives up yields in the bond market. As a result, this new money will flow into stocks, Bitcoin and gold.”
Bitcoin's Profit
Gromen believes that Bitcoin could make a big profit if the government prints more money. The analyst predicts that the S&P index would likely double, while Bitcoin would increase by about five times. He also thinks that the value of gold could double or triple.