Anthony Pompliano says Bitcoin could eventually break $1 million if the US government keeps expanding the money supply and the dollar continues losing purchasing power.

The ProCap Financial CEO made the comments during a CNBC appearance on May 28, arguing that Bitcoin has no top because the dollar has no bottom. 

His thesis is that rising government debt, persistent deficits, and long term currency debasement strengthen the case for Bitcoin’s fixed supply.

The argument is familiar but still powerful in crypto markets. Bitcoin’s supply is capped at 21 million coins, while the US fiscal position continues to deteriorate. Total US debt now stands above $39 trillion, according to Treasury data.

Pompliano has made the same point before. In February, he said that if Bitcoin does not go to zero, it is going to a million at some point.

ProCap is also backing the thesis with its own balance sheet. The company, which trades on Nasdaq under the ticker BRR, bought 450 BTC in March, bringing its total holdings to 5,457 BTC.

The purchase came as ProCap continued buying back its own shares. Pompliano said at the time that the company was buying Bitcoin to reduce its average cost basis while repurchasing stock when the market mispriced it.

The strategy mirrors a broader trend among public companies using Bitcoin as a treasury asset. For those firms, Bitcoin exposure becomes both an investment strategy and part of the equity story offered to shareholders.

The risk is that Pompliano is not a neutral observer. As the CEO of a public company holding thousands of Bitcoin, he has a direct incentive to promote the long term upside case for the asset.