ECB Money Printing Is ‘Rocket Fuel’ for Bitcoin Price, Says Pompliano

Morgan Creek Digital Assets co-founder Anthony Pompliano says the European Central Bank (ECB)’s expected dovish turn will be “rocket fuel” for Bitcoin.

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…