In an interview given to a prominent media house, Antony Pompliano, the founder and CEO of Professional Capital Management, expressed hope that Donald Trump, the new president-elect of the United States, would redefine how the country approaches the cryptocurrency market. He also made certain striking revelations. Let’s dive in to learn more. Read on!
Trump’s Bold Bitcoin Move
During the election campaign itself, Republican leader Donald Trump promised that he would establish a pro-crypto environment if elected. He made some aggressive statements against the Democratic party for the handling of the key issues faced by the crypto sector, especially criticising US SEC chairman Gary Gensler.
Highlighting Donald Trump’s love for Bitcoin, Pompliano portrayed him as a pro-Bitcoin president. He emphasised the promises made by Trump related to the protection of the rights of crypto investors, particularly Bitcoin investors.
Crypto markets are experiencing a dip today, driven by a mix of regulatory fears and market corrections. Read more here to find out why crypto is down today.
Creating a Bitcoin Reserve
There are rumours that Donald Trump has a plan to create a national Bitcoin reserve soon. Earlier, some close to Trump hinted at the possibility for the BTC reserve. Speaking about the rumoured plan for the reserve, Pompliano asserted that Trump would create the national Bitcoin reserve within 100 days.
BTC Growth Outpaces US National Debt
In August, the US government debt was 35.3M USD Million. By October, it reached a peak of 36M USD Million, marking a 1.98% growth compared to August. During the same period, the Bitcoin market climbed at least 7.58%. In the last 30-days alone, the market has seen a rise of over 35.4%. Since November 5, the day of the US presidential election, the market has displayed a surge of 27.51%.
Lately, the Bitcoin market has outperformed the US government debt.
Pompliano opined that Bitcoin could be used as a hedge against rising debt. Reports indicate that several experts, including Tom Lee, hold similar views about Bitcoin.
Record-Breaking Bitcoin Price Surge
Right now, the Bitcoin price hovers near the crucial $90K mark. It may break above the mark any moment. Previously, Pompliano predicted that the Bitcoin market would reach $100K. Referring to the growth potential of BTC, he reaffirmed his past forecast, claiming that reaching the $100K level is now only a matter of time. Emphasising the importance of institutional interest, he noted that institutional players would play a significant role in the future growth of Bitcoin.
In conclusion, with Trump’s support and institutional interest rising, Bitcoin’s role in US economic policy could be redefined, signalling a new era of digital assets.
