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Anthony Pompliano, CEO of ProCap Financial, stated that Bitcoin’s value could rise indefinitely. In his view, as the volume of U.S. currency in the financial system increases, the value of scarce assets grows.
Pompliano cited the recent decision by the U.S. Department of the Treasury to increase the volume of long-term Treasury bond buybacks. Starting September 9, the maximum size of a single such operation must increase at least twofold—from $2 billion to $4 billion. The agency explained this step as necessary to enhance liquidity in the long-term government debt market.
The head of ProCap Financial believes that the agency’s actions demonstrate the willingness of U.S. authorities to inject money into the financial system. Pompliano views the increase in the money supply as one of the short-term factors that could drive up the price of the leading cryptocurrency.
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“Bitcoin has no ceiling because the dollar has no floor. The U.S. government will never stop printing money,” Pompliano said.
Additionally, the top executive noted that artificial intelligence is making computing power and knowledge more accessible. Under these conditions, investors will place greater value on limited-volume assets, including Bitcoin.
Pompliano identified excessive government spending as the main problem of the U.S. economy. According to him, both Republicans and Democrats spend too much, forcing authorities to intervene in the debt market.
Previously, Anthony Pompliano stated that a 40% correction in Bitcoin from its all-time highs could create conditions for a new record. In his opinion, the stronger the price pullback, the more powerful the subsequent growth could be due to the “slingshot effect.””
