Anthony Pompliano, the founder of Pomp Investment, recently shared his thoughts on Bitcoin’s future after the upcoming halving. In an interview with Fox Business, Pompliano expressed his belief that Bitcoin’s sound monetary principles will make it a more valuable asset than gold.
Pompliano emphasized that the halving event will help people recognize the benefits of Bitcoin. He also pointed out that Bitcoin has been the best-performing asset in the four years following its previous halving. To illustrate this, he compared Bitcoin’s price of $8,000 before the last halving to its current price of around $64,000.
When asked about Bitcoin’s recent correction, Pompliano highlighted that no other asset has outperformed Bitcoin in the four years following its halving. He acknowledged that the recent correction has affected all assets in the crypto market and attributed it, in part, to the escalating tension in the Middle East.
Since the tension began on April 13, both Bitcoin and Ethereum have experienced significant market corrections, with Bitcoin dropping by 9% and Ethereum seeing an 8% decline. Additionally, the Nasdaq 100, the gold index (XAU), and the S&P 500 have also declined during this period. Pompliano noted that this is a common trend during times of tension, as investors tend to hold more dollars, leading to the sale of Bitcoin and other assets.
However, Pompliano believes that Bitcoin will lead the recovery and become a long-term trend over the next four years. He argued that Bitcoin and gold are more reliable assets because their supply cannot be increased at will.
In terms of investment advice, Pompliano encouraged traders to buy assets based on their preferences. He recommended gold for those concerned about significant declines in volume and Bitcoin for those looking to boost their purchasing power. While he acknowledged that the upcoming halving event might lead to a sell-the-news phenomenon, he advised traders to consider Bitcoin for its long-term gains.
