The co-founder of Morgan Creek Digital Assets, Anthony “Pomp” Pompliano notes Bitcoin may be about to moon. Specifically, Pompliano has said that the upcoming policy moves by the European Central Bank (ECB) may act as “rocket fuel” for Bitcoin.
ECB stimulus is “rocket fuel” for Bitcoin price
More accurately, these latest comments came in a tweet on July 26th. The tweet saw Pompliano share some comments on the ECB’s imminent policy decisions. These policy changes are widely expected to include another round of so-called quantitative easing measures – essentially printing more money.
Furthermore, the ECB is also expected to potentially introduce interest rate cuts. What’s more, Pompliano’s comments came in response to a recent Bloomberg article investigating these upcoming policy moves. Pompliano’s tweet reads:
“ROCKET FUEL: They’re going to cut rates and print money right as we march towards the Bitcoin halving. Buckle up. This will be wild 🚀”
As such, it is clear that Pompliano foresees these macro-economic decisions positively impacting the price of Bitcoin. This is, however, not the only recent prediction made by Pompliano in relation to Bitcoin.
Pompliano recently referenced Bitcoin’s upcoming halving – which will be a reduction in mining rewards for Bitcoin in the second half of May of 2020 – as being a major driver for the price of Bitcoin. Furthermore, this appears to be what Pompliano references in his “rocket fuel” tweet.
Pompliano predicts a $100,000 Bitcoin price
Previously, Pompliano has been known to suggest that Bitcoin might reach a Bitcoin price of $100,000 by 2021. Furthermore, it should be noted that even this bullish prediction is quite tempered compared to the recent forecast of a $356,000 Bitcoin price by 2021.
Nevertheless, now it seems that Pompliano expects stimulus in the EU area to also play a part in boosting the Bitcoin price. The ECB is expected to prolong and intensify its financial stimulus measures following disappointing consumer-price growth.
In addition to this, the ECB’s Governing Council has already made its “commitment to symmetry” known, indicating it is open to further stimulus measures.
“The Governing Council has tasked the relevant Eurosystem Committees with examining options, including ways to reinforce its forward guidance on policy rates, mitigating measures, such as the design of a tiered system for reserve remuneration, and options for the size and composition of potential new net asset purchases.”
As such, the ECB’s continued stimulus seems all but granted. What more interesting, then, is seeing whether Pompliano’s predictions for massive Bitcoin price increases also come true.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.