Macro strategist Luke Gromen has outlined a dire outlook for the U.S. economy, highlighting the impact a recession would have on Bitcoin (CRYPTO: BTC).
What Happened: In a podcast episode of ‘What Bitcoin Did’ published on Monday, Gromen stated that the inflection point would come when capital outflows, rising inflation, and unsustainable debt levels trigger an emerging market-style “sudden stop” crisis in the U.S.
This would dramatically benefit Bitcoin as a neutral reserve asset.
He highlighted the alarming fiscal situation, where “U.S. interest plus entitlements is more than 100% of receipts,” despite tax revenues being at all-time highs.
This …
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