ECB Money-Printing Is “Rocket Fuel” For Bitcoin Price Says Pompliano
In a tweet posted on July 26, Pompliano commented on a fresh Bloomberg article investigating the ECB’s imminent policy moves — potentially including interest-rate cuts and renewed quantitative easing — designed to boost a faltering Eurozone economy. He said:
“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 🚀”
Pompliano had notably recently cited bitcoin’s halving – the reduction of mining rewards in half in May 2020 – as being one of the largest drivers of Bitcoin’s predicted price appreciation. His forecast is that the coin will hit $100,000 by the end of 2021.
Bloomberg’s article cited ECB President Mario Draghi’s recent comments indicating the institution’s intent to deliver another round of monetary stimulus this September. Notably, the ECB head stated that “on the inflation front, we don’t like what we are seeing […] That’s very important.”