The post Here’s the Catalyst That Could Ignite Bitcoin Explosion to $500,000, According to Macro Guru Luke Gromen appeared on BitcoinEthereumNews.com.

Investor Luke Gromen believes that the winds are shifting in the US, creating conditions that could boost Bitcoin (BTC) to price levels never seen before. In a new interview on the Julia La Roche Show, the macro guru says he has “very high conviction” that policymakers in the US will weaken the dollar this year in an effort to rebuild the country’s defense industrial base. Last month, Gromen said that the US realized it was facing a national security crisis after being defeated by Russia in Ukraine. The investor noted the Department of Defense is now willing to debase the dollar to revive America’s ability to manufacture armaments. Now, Gromen says he sees policymakers turning the money printers back on in a huge way to pay for the labor and materials required to revitalize the defense industry. “Ultimately, that goes right back to, ‘Hey, we need to stop XYZ components – China, Vietnam, Mexico, whatever. We’re going to bring it back here. We need to spend $100 million. We don’t have the labor.’  Who cares? Print it.  ‘The labor’s going to go up.’  We don’t care, we have a printing press. Print it.  ‘Well, we’re short the steel.’ Don’t care, print it.  They’ll just print the money.”  Gromen says he expects the newly printed dollars to find their way into Bitcoin and other risk assets. “They’re going to pay to get it done, and they’re not going to let the bond market yields rise to try to stop it. And so ultimately, that cash is going to flow into equities, into Bitcoin, into gold.”  The macro guru says Bitcoin will emerge as the biggest winner should the government print more money. “The S&P will probably double, Bitcoin will probably be you know 5x, gold will probably be two, three, 4x.”…

---

Filed under: News - @ January 1, 2025 8:05 am