Well-known crypto influencer, Anthony Pompliano, shared his opinion on social Twitter about Bitcoin, calling it “a sponge for trillions of dollars”.
Summary
Anthony Pompliano and Bitcoin investment strategies
Every large pool of capital is going to be forced into bitcoin because they have nowhere else to go.
Bitcoin is a sponge for trillions of dollars in assets seeking protection from undisciplined monetary and fiscal policy. https://t.co/J12C1F2uDL
— Pomp 🌪 (@APompliano) October 20, 2021
“Every large pool of capital is going to be forced into bitcoin because they have nowhere else to go. Bitcoin is a sponge for trillions of dollars in assets seeking protection from undisciplined monetary and fiscal policy”.
According to the well-known co-founder of Morgan Creek Digital Asset, and investor with Pomp Investments, to date all the big pools of capital seem to be heading to Bitcoin because they have nowhere else to go.
In essence, it’s as if BTC represents the solution to the ongoing search for protection from undisciplined monetary and fiscal policy. This is why, the queen of cryptocurrencies continues to attract trillions of dollars.
Pomp’s statement comes in response to the announcement by $2.2 trillion asset manager PIMCO that it plans to “invest more” in BTC and other digital assets.
An investment strategy that includes bitcoin already adopted by others such as Michael Saylor’s MicroStrategy which, to date, holds $6 billion in BTC as its primary reserve.
Pomp on Bitcoin Futures ETF
Following the bull market that has led Bitcoin to surpass its All Time High (ATH) by reaching $66,000, Pomp also tweets about the NYSE-listed Bitcoin Future ETF, which was approved by the SEC just two days ago.
“The Bitcoin Futures ETF ended day two with more than $1 billion in total assets. Which breaks the Gold ETF’s record that stood for 18 years”.
As early as last month, Pomp compared the Bitcoin ETF as the inflation-fighting gold ETF.
Analyzing the history of gold ETFs that surged during the 2007/2008 financial crisis, Pomp speculated that the same could happen when the SEC approves Bitcoin ETFs in the US as well.
Given that the only ETF currently approved is on Bitcoin Futures, the crypto influencer’s tweet notes that it has already surpassed the record of gold ETFs in just two days, closing with more than $1 billion.
Fidelity’s BTC price predictions
Always very careful when it comes to Bitcoin, Pompliano also shared Fidelity’s hypothesis that the price of BTC could reach $100 million by 2035.
The projection was made by one of the world’s largest asset managers, with $4900 billion in assets under management. Which is heavily exposed to crypto markets through its affiliate Fidelity Digital Assets.
So, while it may be unlikely to be able to predict the price of the crypto queen for the next 14 years, Fidelity has made its assumption by taking into account Bitcoin’s cycles.
