Pompliano: Bitcoin Will Be More Valuable Than Gold
17 Apr, 2024 ● Crypto people
Anthony Pompliano, founder and partner of Pomp Investments, remains highly optimistic about Bitcoin, particularly in light of the upcoming supply halving.
During an interview on Fox Business on April 17, he emphasized Bitcoin’s strong performance post-halving compared to other assets, highlighting its rise from $8,000 to $64,000 since the last halving four years ago.
Pompliano addressed recent concerns about Bitcoin’s market correction, noting that the downturn was part of a broader market reaction to geopolitical tensions in the Middle East that began on April 12.
He pointed out that not only Bitcoin but also gold, stocks, and bonds saw declines, with Ether, the S&P 500, the Nasdaq 100, and the gold index (XAU) all experiencing drops since the escalation.
He explained that during political uncertainties, investors often liquidate holdings into more liquid assets like U.S. dollars, affecting a wide range of investment vehicles including Bitcoin.
However, Pompliano is confident that Bitcoin will not only recover but also lead the recovery across financial markets.
Looking ahead, Pompliano believes that Bitcoin will continue to perform robustly in the next four-year cycle following the halving, based on its proven track record and underlying principles.
He highlighted Bitcoin and gold as “sound money” assets, outside of traditional systems and resistant to arbitrary increase in supply.
For investors seeking stability, gold may be preferable due to its lower volatility, but for those aiming to enhance their purchasing power, Bitcoin stands out as the superior choice.
Pompliano also discussed the digital versus analog valuation, predicting that Bitcoin, as the digital counterpart to gold, will eventually surpass it in value due to the advantages of digital formats.
With the halving event on the horizon, he suggested that while it might trigger a “sell-the-news” phenomenon, the long-term perspective should focus on Bitcoin as a "savings technology."
He advocated for dollar-cost averaging as a strategy for investing in Bitcoin, which involves regularly investing a fixed amount over time, regardless of the price. This method, he argues, will yield substantial benefits for long-term investors.
In his discussion with Fox Business, Pompliano revealed that over half of his own investment portfolio is comprised of Bitcoin, underscoring his strong belief in its potential and stability as an investment.
Sources:
https://www.youtube.com/watch?v=xwXxZIvL62I
