Macro guru Luke Gromen thinks Bitcoin and gold are the top picks for investors betting on how artificial intelligence (AI) will shake up the economy. He shared his views in a recent YouTube video.
AI’s Potential Economic Fallout
Gromen predicts AI will cause a banking crisis. As AI takes over jobs previously done by humans, wage growth will stall and people will struggle to pay loans. This will lead to a rise in loan defaults, threatening the banking system. He believes that governments will likely step in to prevent a major banking collapse by printing more money.
Bitcoin and Gold as Safe Havens
Gromen argues that this increased money printing will cause inflation, driving up the price of gold and Bitcoin. He sees these assets as the best way to protect your investments during this period of economic uncertainty. He calls them “the cleanest AI plays” because they’re likely to increase in value as a result of the government’s response to the AI-driven economic downturn.
The Bottom Line
Gromen’s prediction is that central banks will intervene to save the banking system by printing more money, making Bitcoin and gold attractive investments. However, it’s important to remember that this is just one expert’s opinion, and investing in cryptocurrencies and other assets carries significant risk. Always do your own research before making any investment decisions.
