ChainThink reports that on May 29, according to Forbes, cryptocurrency entrepreneur and CEO of Bitcoin treasury firm ProCap, Anthony Pompliano, stated that the U.S. government will not stop printing money, and the continued depreciation of the dollar could ultimately push Bitcoin’s price to $1 million.
Pompliano said on CNBC that Bitcoin has no ceiling because the dollar has no floor. He believes that U.S. government spending continues to expand, and even though the Trump administration attempted to cut fiscal expenditures, the U.S. debt has approached $40 trillion.
Data shows that over the past year, the Federal Reserve’s balance sheet expanded to approximately $6.3 trillion, while the M2 money supply rose to a record high of approximately $22.7 trillion.
Pompliano stated that, against the backdrop of continuous money printing by governments, non-productive assets such as gold and bitcoin have been consistently outperforming the stock market. However, he also acknowledged that while it is easy to judge bitcoin’s price, it is difficult to predict when it will reach $1 million.