Bitcoin and Gold Thrive in the Face of US Fiscal Crisis: Insights from Macro Investor Luke Gromen
In a recent interview, experienced macro investor Luke Gromen emphasized the potential for both Bitcoin (BTC) and gold to thrive amidst mounting fiscal challenges in the US economy.
Gromen discussed the impact of the Federal Reserve’s policies, noting that assets like gold, Bitcoin, and oil could flourish in an environment of continuous quantitative easing or similar measures. He highlighted Bitcoin and gold as valuable assets during fiscal crises due to their fixed supply and the ability for their face value to rise.
Gromen also discussed the potential shift in the global economic landscape, particularly with BRICS nations (Brazil, Russia, India, China, and South Africa) potentially moving towards a gold-backed currency, potentially challenging the US dollar’s status as the world’s primary reserve currency. This shift could further strengthen the positions of gold and Bitcoin in the global financial system.
Clever Robot News Desk 3rd October 2023
