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ToggleBitcoin 's performance over the past year may have made some investors lose patience, but from a macroeconomic perspective, an epic transfer of wealth may have only just begun.
According to a recent article published today (May 29, 2026) by Forbes columnist Billy Bambrough, although Bitcoin has failed to keep up with the recent surge in tech stocks, with its price falling nearly 30% from its all-time high of approximately $126,000 last October, and even prompting bearish comments from figures like billionaire Mark Cuban, the core force truly driving Bitcoin's long-term value— the "depreciation of the US dollar" —is deteriorating at an alarming rate.
Pompliano: The dollar has no bottom, so Bitcoin has no top.
In an interview with CNBC, Anthony Pompliano, CEO of ProCap Financial and a well-known Bitcoin believer, issued a strong warning about the current state of US finances. He stated bluntly that we are in a new era following the global financial crisis, and governments have no choice but to "print astronomical amounts of money." Pompliano emphasized:
"Will the US government stop printing money? I don't think they will. Bitcoin will definitely make a strong comeback... Bitcoin has no upper limit because the US dollar has no bottom line."
He predicts that in an environment of continued fiat currency depreciation, non-productive assets (such as gold and Bitcoin) will far outperform traditional stocks. Just as gold has long outperformed the S&P 500 index, Pompliano boldly asserts that Bitcoin's ultimate target will be $1 million .
Musk's departure from the White House exposes the black hole of uncontrolled US finances.
Supporting Pompliano's million-dollar prediction are the increasingly out-of-control US debt and monetary data. Forbes highlighted several alarming macroeconomic indicators in its report:
| US macroeconomic indicators (as of May 2026) | Current Status and Impact of Data |
|---|---|
| US national debt | Soaring to nearly $39 trillion |
| M2 money supply | It hit a record high, approaching $22.7 trillion. |
| Federal Reserve Balance Sheet | Growing to approximately US$6.3 trillion |
Even more indicative is the political turmoil. Although the Trump administration previously attempted to control spending by establishing the Department of Government Efficiency (DOGE), its efforts were largely ineffective. Tech visionary Elon Musk even resigned from the White House team last year in strong dissatisfaction with Trump's tax and spending bills that could balloon the fiscal deficit to $2.5 trillion , undoubtedly sending a strong signal to the market of a breakdown in American fiscal discipline.
Wall Street giants issue warnings: "Devaluation trading" shifts to Bitcoin.
This distrust of fiat currency is spreading among the top echelons of Wall Street. Ray Dalio, founder of Bridgewater Associates and a billionaire, recently issued a stern warning that the US dollar is on the verge of collapse, and that future financial crises will significantly limit government spending, rendering fiat currency an ineffective store of value.
Meanwhile, JPMorgan analysts have also observed a paradigm shift in Wall Street's "debasement trade." As geopolitical tensions in the Middle East (such as the conflict with Iran) escalate, gold, which was previously the preferred safe-haven asset, is gradually being replaced by Bitcoin, often referred to as "digital gold." Data shows that net inflows into Bitcoin ETFs have begun to surpass those into gold ETFs.
As Forbes concluded, although Bitcoin faces short-term pressure from the AI investment boom and profit-taking, as long as the "money printing press" keeps running, Bitcoin's brilliance as the ultimate store of value will eventually lead it into a new era of millions of dollars.
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