Anthony Pompliano: Continued devaluation of the US dollar could drive Bitcoin to $1 million
BlockBeats news, May 29, according to Forbes, cryptocurrency entrepreneur and CEO of Bitcoin treasury company ProCap, Anthony Pompliano, stated that the US government will not stop printing money, and the continued depreciation of the US dollar could eventually push the price of Bitcoin up to 1 million dollars. Pompliano said on CNBC: "Bitcoin has no top because the dollar has no bottom." He believes that US government spending continues to expand, and even though the Trump administration attempted to cut fiscal expenditure, US debt still approaches 40 trillion dollars.
Data shows that in the past year, the Federal Reserve’s balance sheet expanded to around 6.3 trillion dollars, and the M2 money supply rose to a record high of around 22.7 trillion dollars. Pompliano noted that with the government continuously printing money, non-productive assets like gold and Bitcoin are consistently outperforming the stock market. However, regarding when Bitcoin will reach 1 million dollars, Pompliano said: “It’s easy to judge the price, but hard to judge the timing.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After Amazon and OpenAI, Synopsys (SNPS.US) also "looks to the East": plans to explore cooperation with Chinese AI laboratories on chip design technology
Global chip design software development leader Synopsys (SNPS.US) plans to explore cooperation with Chinese AI laboratories to improve the chip design process.
KBW's Michaud Explains What to Expect from a Pressured Q3 Bank Earnings Season
BUZZ - Morningstar expects Woodside's revenue growth will outpace global peers by the end of this decade
On October 9, Morningstar predicted that the revenue of Australian oil and gas producer Woodside Energy (WDS.AX) will grow by over 30% by 2030, outpacing any of its international peers. Woodside Energy’s share price dropped by 0.6% on the day to 32.12 AUD, after surging 2.6% in the previous trading session. The stock is poised to end a three-week losing streak, with oil prices rising due to escalating tensions in the Middle East, and is set for a 2.8% weekly gain O/R. Morningstar expects Woodside’s revenue to increase as major new projects come online, and forecasts free cash flow to exceed 7 billion USD after 2030, reflecting a 300% rise from 2025. The report added that market sentiment remains bearish, with the current share price below its estimated fair value of 44.00 AUD. Year-to-date, Woodside’s share price has risen 36.2%, while Santos shares are up 41.3%. (For the convenience of non-English speakers, Reuters has automated the translation of its reports into several languages. Since automated translations may be inaccurate or lack required context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for the convenience of readers. Reuters accepts no liability for any loss or damage arising from your use of automated translation functions.)
Star analyst Ives: Bullish on Apple (AAPL.US) up to $400, AI strategy may increase valuation by $75 per share
Ives has given Apple stock an "outperform" rating, with a target price of $400.
Crypto prices
More
