Bitcoin price quickly surpassed $61,200 at the time of writing, and maintaining these gains is crucial. If this is a real comeback, we should see impressive rallies for altcoins in the coming days. Meanwhile, macro guru Gromen warned US citizens about an important issue.
Avoid US Bonds
Experienced macro investor Luke Gromen recently did a program with Robert F. Kennedy Jr.’s vice-presidential candidate Nicole Shanahan. Although Robert is not the favorite candidate, his stance on cryptocurrencies is appreciated by investors. However, Trump’s still the favorite candidate among investors.
In his latest assessment, Gromen addressed US bonds, highlighting the lack of domestic production capacity and the growing trillion-dollar debt.
“We may have 10 times the GDP of Russia, but Russia produces oil and similar things, and a large part of our GDP is flipping monkey JPEGs back and forth and flipping houses back and forth, which is fine in peacetime but useless in wartime. Therefore, the Russians produce more than us with one-tenth of our GDP.”
According to him, US debt is growing very rapidly, and he argues that its real value is the biggest short position. Bond investors may get their money back, but they will regret it as the dollar’s value erodes.
“You will get back every penny of the Treasury bonds you own, but with that money, you will go from a diamond necklace to a cubic zirconia necklace. Boomers will pay for healthcare one way or another.”
Cryptocurrencies
Some experts argue that Bitcoin or gold could be used to counter the massive debt. Even Trump’s story of creating a BTC reserve through the Fed is somewhat based on this. With the November 2024 elections approaching, Harris also needs to take various steps to win the votes of crypto investors.
Inflation is decreasing, the Fed is forced to cut rates, and Trump’s story of becoming a crypto-friendly president is a significant price catalyst for the markets. Adding the growth potential in the ETF channel, many FUDs may be painful but left behind, making the end of 2024 and the beginning of 2025 impressive for crypto.
