Bitcoin's Rise A Response To Debt, Inflation Concerns, Says Anthony Pompliano: 'This Is The Best Marketing Campaign For BTC'

Entrepreneur and investor Anthony Pompliano said Thursday that the ongoing surge in Bitcoin’s (CRYPTO: BTC) value is a reaction to impending economic turmoil.

What Happened: During his video podcast, Pompliano dissected the aggressive rally that has sent Bitcoin to new highs. He said the market is pricing in “tough times” ahead, making Bitcoin an attractive safe haven.

According to him, Bitcoin’s value increased as the market became more aware of the implications of the recent tax-cut bill on national debt and deficits.

For context, the House approved the $3.8 trillion tax-and-spending package by the barest of margins, raising fears about long-term debt sustainability and pushing bond rates to levels not seen since October 2023.

“The markets are pricing in stronger growth, higher inflation and higher for longer interest rate policy,” Pompliano said. “This is the best marketing campaign for Bitcoin you could ever have.”

See Also: Anthony Scaramucci Says Thin Supply Is Driving Bitcoin To New All-Time Highs

Why It Matters: Pompliano’s remarks echoed his previous views on the impact of dollar debasement on asset prices.

Earlier this week, he stated that the odds of a U.S. balanced budget are now “near zero” and projected that a weaker dollar will keep pushing up the prices of financial assets.

Price Action:  At the time of writing, BTC was exchanging hands at $111,169.33, up 0.50% in the last 24 hours, according to data from Benzinga Pro.

Read Next: 

• Michael Saylor Drops ‘Back To The Future’ Reference To Promote Bitcoin, Shiba Inu Flaunts Its Own DeLorean Links

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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