Why Luke Gromen Believes Bitcoin Will Soar in the Next Six to 12 Months – The Daily Hodl
Veteran investor Luke Gromen believes that Bitcoin (BTC) will experience an increase in value in the upcoming months due to a favorable macroeconomic environment.
During an interview with crypto journalist Natalie Brunell, Gromen points out the nearly $35 trillion debt of the US government.
Given the current record-high levels of national debt, Gromen argues that the Federal Reserve will be unable to prevent the resurgence of inflation. This will lead investors to turn to assets like Bitcoin as a store of value to protect their wealth.
Gromen expresses his bullish sentiment on Bitcoin for the next six to 12 months, citing the inevitability of higher inflation and fiscal deficits regardless of the Fed’s actions. He emphasizes that these conditions are favorable for Bitcoin due to its fundamental strengths.
Despite any potential temporary setbacks like a Fed rate hike, Gromen remains optimistic about Bitcoin’s future prospects. He highlights the growing skepticism around Bitcoin and the vast amount of money still held in money market funds.
Ultimately, Gromen believes that Bitcoin will benefit from the weakening of the dollar and the ongoing macroeconomic trends, making it an attractive investment option.
As of the time of writing, Bitcoin is trading at $64,637.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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