The post Bitcoin Price Will Likely Go Much Higher At a Faster Pace: Predicts Anthony Pompliano As BTC Price Hit ATH appeared first on Coinpedia Fintech News

Bitcoin is witnessing a resurgence, approaching historical highs from a few years ago. Anthony Pompliano, founder of Pomp Investments, discussed the current state of Bitcoin in a recent interview, highlighting key factors contributing to its bullish momentum. 

Anthony Pompliano’s Perspective on Bitcoin Rally

In a recent CNBC interview on 5th March, Anthony Pompliano reflected on Bitcoin’s recent performance, likening it to a “rocket ship.” He emphasized the transformative impact of Bitcoin’s Exchange-Traded Fund approvals and notable institutional investments, such as BlackRock’s $11 billion allocation to the ETF. 

Pompliano noted that Bitcoin experienced significant inflows, with an astounding 12 times more demand, attributing this surge to a newfound mainstream acceptance.

Anthony Pompliano stated, “It started slow, but then it has been a rocket ship. If you look at the last 60 days and the next 60 days, the ETF approvals were a huge deal. BlackRock with $11 billion in the ETF. They have added $1 billion in the last day. These are massive inflows for one fund. There are 11 of them. Massive money coming in. 12 times more demand.”

Projections for Bitcoin’s Future

Pompliano went on to share insights into Bitcoin’s potential future trajectory. Drawing references from similar record-breaking moments, Pompliano highlighted Bitcoin’s historical tendency to double in price within 18 days or less after surpassing an all-time high. 

Pompliano expressed optimism about Bitcoin’s upward trajectory with the impending halving and increased mainstream adoption.

Anthony Pompliano noted, “Once you break through the all-time high, what is this worth? The world is figuring out that. In 18 days or less, it doubled in price. You add in the halving, and we go from 900 per day to 450.”

While Pompliano remains bullish on Bitcoin, he emphasized the importance of responsible investment practices. Acknowledging Bitcoin’s rapid surge suddenly since 2021, Pompliano warned against excessive risk-taking and urged investors, especially those new to the space, to exercise caution and prudence.

Institutional Involvement and Global Impact

Pompliano highlighted three main buyer categories influencing Bitcoin’s market dynamics – pension funds, sovereign wealth funds, and ETF opportunities. 

He underscored the potential impact of institutional participation, citing instances of pension funds experiencing substantial returns on Bitcoin exposure. Additionally, Pompliano noted the slow and steady rise in interest of sovereign wealth funds.

Anthony Pompliano explained, “The CIOs there are up 12X on the exposure to Bitcoin in that fund. There are four funds last year in all of state public pension funds fully funded. If they all put 1% in Bitcoin, there is a strong possibility a number of the funds would get back to fully funded status in the next 15 to 20 years.”

Bitcoin vs. Gold: Unraveling Market Dynamics

Discussing the relationship between Bitcoin and traditional safe-haven assets, Pompliano addressed the correlation with gold. He attributed recent strength in both Bitcoin and gold to concerns about inflation and the rapid growth of global debt.

Anthony Pompliano said, “If you believe the dollar is debased, Bitcoin is a winner.”

Pompliano touched upon Bitcoin’s current market capitalization, surpassing $1.35 trillion and outperforming the bond market. He focused on Bitcoin’s potential to exceed gold’s market cap and expressed a bullish outlook based on its perceived superiority.

He further remarked, “Today, Bitcoin at $1.35 trillion is higher than the bond market. It will go past gold eventually. Bitcoin is a 10X improvement on gold.”