Bitcoin Will Be Boosted By The European Central Bank, Says Anthony Pompliano
Bitcoin bull and Morgan Creek Digital co-founder Anthony Pompliano said that potential interest rate cuts and the quantitative easing from the European Central Bank would become rocket fuel for BTC.
BTC benefits to become more obvious to investors
During a new installment of his newsletter Off The Chain, Pompliano outlines why he believes that the expected rate cuts from the ECB will help make the benefits of Bitcoin more obvious to potential investors.
“The actions of central banks aren’t the only thing that we should be paying attention to either — the timing is very important as well. The impact of monetary stimulus is normally not seen for 6-12 months after the initial actions are taken. Given that the rate cuts are likely to be initiated in September, the impact won’t be seen until February 2020 or later,” he said.
He continued and explained, “That means that the monetary stimulus impact will hit within 90 days of the 50% reduction in the Bitcoin monetary supply schedule.”
In his opinion, we are going to see “traditional assets being artificially pumped at the exact same time that the stock-to-flow ratio of Bitcoin becomes drastically more attractive.”
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 🚀 pic.twitter.com/QotDXKTJRj
— Pomp 🌪 (@APompliano) July 25, 2019
Pompliano also made sure to say that he is not looking for a single financial event to trigger a sudden spike in BTC’s price.
Instead, it’s all about a gradual recognition of the strengths of BTC’s limited supply.
He is positive that BTC’s value will become obvious to the world soon.
You can read all that Pompliano had to say in his letter.
John McAfee talks about BTC
BTC had a tough week because the US has been putting pressure on BTC. He says that the price will climb back up in about a week.
A few days ago, McAfee addressed BTC. The price of the most important digital asset has been looking more red than green and the man believes that the US has been responsible for this.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.