Anthony Pompliano, the CEO of Professional Capital Management, offered insights into President-elect Donald Trump’s strong stance on Bitcoin. According to Pompliano, Trump’s support for BTC could alter U.S. policy on digital assets. He even revealed that Trump has personally invested in BTC even though it’s not publicly known.
Anthony Pompliano on Trump’s Support for Bitcoin
“We have a very pro-Bitcoin president who has promised protection for the rights of Bitcoiners,” Pompliano stated, leading to what he described as a groundbreaking shift in economic strategy from the White House. Pompliano revealed Trump’s personal investment in Bitcoin and the unprecedented idea of establishing a U.S. BTC reserve. “This is a flag being planted in the ground,” he noted, in an interview with Fox News. Pompliano also projected that the reserve might materialize within 100 days.
Pompliano believes that Trump’s approach is influenced by increasing global interest in BTC, particularly among central banks exploring alternatives to traditional assets. He highlighted Bitcoin’s 15-year track record as evidence of its value, especially amid growing concerns about the financial system’s stability. Pompliano referred to Bitcoin as a “global alarm system.” This suggests its potential to signal upcoming economic challenges for traditional financial structures.
Bitcoin is the global alarm system.
The asset is up 40%+ in the last 3 months while politicians have added $850 billion to the national debt.
It is now a race to the sky between the debt and bitcoin’s price.
I explain to @TeamCavuto today on Fox Business. pic.twitter.com/4myOQcqtxi
— Anthony Pompliano 🌪 (@APompliano) November 12, 2024
The escalating national debt, Pompliano mentioned, is another factor driving attention toward BTC. U.S. politicians have added more than $850 billion to the debt over the past three months, he noted, during which Bitcoin’s price saw a 40% increase. “If we compare the rise in national debt with BTC’s growth, both are racing skyward. But this largest cryptocurrency is poised to win that race,” he asserted.
Pompliano’s stance aligns with Tom Lee, head of research at Fundstrat, who recently suggested Bitcoin could be considered a strategic asset for national reserves. Lee reiterated his projection that Bitcoin could reach $100,000, framing it as a question of “when, not if.”
Personal Take on BTC Price Surge
Pompliano also addressed Bitcoin’s recent price surge, which saw it approach $90,000. He attributed this spike to increased demand from Wall Street. He said, “Bitcoin had one of its most impressive days in history yesterday, rising over 13%.”
This rally, occurring without significant announcements, highlighted Wall Street’s need to catch up, with traders often missing out on weekend price action due to the 24/7 nature of Bitcoin trading. Pompliano emphasized Bitcoin’s unique resilience and its growing position as a key financial asset, particularly with Trump’s pro-Bitcoin stance.