Investor Luke Gromen recently made revelations regarding the US authorities’ plans for bitcoin (BTC). This was during an interview with Peter McCormack on the What Bitcoin Did podcast. The investor reported that US authorities are coordinating to act on the price of the flagship crypto. He did not fail to explain what they are trying to achieve as an objective by doing so.
US authorities do not want to lose consumer confidence
While the queen of cryptos remains unbeatable, Luke Gromen reveals that her market could be threatened in the United States. Indeed, the macro investor said US officials are looking to control its price before a possible hyperinflation. He indicated that their goal is to prevent an increase in the value of assets like gold and bitcoin (BTC). He pointed out that a rise in these assets would hurt consumer confidence in the economic policies of US authorities.
” The American authorities do not want an increase which would give them a bad image. If the stock market goes up, there won’t be any Americans saying, “You’re terrible.” If the stock market grows 100% per year for three years, people will love it. They won’t ask many questions. If bitcoin goes up 500% per year for three years or gold goes up 200% per year for three years, they’ll start asking more questions. », has explained Luke Gromen.
The investor continued in these terms: They need to inflate and by delaying the inflation as much as they have already done, they increase the chances that they need a really compressed period of inflation. Then, I watch the operation “Choke Point 2.0″… Looks like they are trying to close the doors of the cinemas before setting them on fire “.
Luke Gromen asserted that the American authorities are beginning to understand that there will soon be a compressed period of high inflation rates. In this context, they realize that their policy will inevitably have to take a specific direction. Also, it is in the face of this situation that the United States would try to limit the use of cryptos. That said, Brian Brooks, former acting director of the OCC, made similar statements last month. Indeed, he argued that US regulators are at war with the crypto industry.
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