Bitcoin's recent weakness may be the calm before a storm. A Forbes article published on May 29 warns that the U.S. government's relentless printing press is preparing to unleash a fiat currency disaster. Investor Anthony Pompliano asserts that because the dollar has no bottom, Bitcoin has no ceiling. With the government expected to print astronomical amounts of money, he predicts Bitcoin will eventually soar to $1 million. The U.S. national debt has surged past $39 trillion, Elon Musk left the White House over fiscal deficits, and Wall Street giants are accelerating capital rotation into Bitcoin to hedge against dollar collapse.
Pompliano: No Bottom for USD, No Ceiling for BTC
ProCap Financial CEO and Bitcoin advocate Anthony Pompliano, in an interview on CNBC, issued a stark warning about U.S. fiscal reality. He said we are in a new era after global financial crises, where governments have no choice but to print astronomical amounts of money. Pompliano stated: "Will the U.S. government stop printing money? I don't think they will. Bitcoin will absolutely come back strong... Bitcoin has no ceiling because the dollar has no bottom." He predicts that in a persistently depreciating fiat environment, non-productive assets like gold and Bitcoin will far outperform traditional stocks. Drawing a parallel to gold's long-term outperformance of the S&P 500, Pompliano boldly claims Bitcoin's terminal target is $1 million.
Fiscal Out of Control: $39T Debt, Record M2
Supporting Pompliano's million-dollar prediction are alarming U.S. debt and monetary data highlighted by Forbes. The national debt has ballooned to nearly $39 trillion; the M2 money supply hit a record high approaching $22.7 trillion; and the Federal Reserve's balance sheet grew to about $6.3 trillion. Adding political turmoil, the Trump administration's attempt to control spending via a "Department of Government Efficiency" (DOGE) proved ineffective. Elon Musk, deeply unhappy with a tax and spending package that could inflate the fiscal deficit to $2.5 trillion, abruptly left the White House team. This sends a strong market signal of deteriorating U.S. fiscal discipline.
Wall Street Shifts: From Gold to Bitcoin in 'Debasement Trade'
Distrust of fiat is spreading at Wall Street's highest levels. Bridgewater founder Ray Dalio recently warned that the dollar is on the brink of collapse, and future financial crises will severely limit government spending, making fiat holdings ineffective for preserving wealth. JPMorgan analysts also observe a "debasement trade" shift: as Middle East geopolitical tensions heat up, gold—the traditional safe haven—is gradually being replaced by Bitcoin, the so-called digital gold. Data shows net inflows into Bitcoin ETFs have begun to surpass those of gold ETFs. Despite short-term headwinds from AI investment frenzy and profit-taking, the long-term shine of Bitcoin as the ultimate store of value remains intact as long as the printing press keeps running.