$5,000 Stimulus Checks Could Boost Bitcoin and Gold, Says Anthony Pompliano
Anthony Pompliano, CEO of Professional Capital Management, believes that President Donald Trump's proposed $5,000 stimulus checks would be a boon for assets like Bitcoin and gold. According to Pompliano, the more cash handouts Trump gives, the better it'd be for these scarce assets.
The proposal, which would cost roughly $1.2 trillion, would boost inflation and drive demand for stores of value such as Bitcoin, gold, and land, according to Pompliano.
A 2022 study by Federal Reserve economists found that fiscal stimulus during the COVID-19 pandemic contributed to an increase in inflation of about 2.5 percentage points in the U.S., while a recent study disputed this view, finding that stimulus programs accounted for less than one-fifth of price increases.
Pompliano has repeatedly cast Bitcoin as a hedge against the debasement of the dollar and supports investing stimulus checks in it, arguing that people need to shift from being consumers to becoming investors.