Anthony Pompliano forecasts a bullish outlook for Bitcoin as it trades around $85,000, comparing its trajectory to gold. He notes that both Bitcoin and gold are up 35% over the past year. Increasing institutional investments via Bitcoin ETFs are vital, and there are indications that the U.S. government may seek to acquire Bitcoin, further impacting its global positioning.
In a recent CNBC interview, Anthony Pompliano, CEO of Professional Capital Management, shared an optimistic long-term outlook for Bitcoin (BTC), especially as it currently trades around $85,000 after a dip to $76,000. He highlighted Bitcoin’s evolving role in the global financial landscape and contrasted it with gold, suggesting significant institutional and governmental actions on the horizon.
Though Bitcoin has decreased approximately 10% this year, gold has increased by 20%. Pompliano noted, however, both assets have appreciated approximately 35% over a year. This disparity is typical; he pointed out that gold often leads price rallies during geopolitical uncertainties, prompting central banks and institutions to favour gold initially due to their unfamiliarity with Bitcoin in such circumstances.
Pompliano remarked that historically, when gold prices increase, Bitcoin tends to follow suit within about 100 days, often rising at a greater rate due to its inherent volatility. This trend suggests a catch-up pattern where Bitcoin escalates following initial gold rallies.
The landscape of Bitcoin investment is changing, as Pompliano cited a rise in the utilisation of spot Bitcoin ETFs amongst institutional investors, including sovereign wealth funds. He referenced a recent disclosure by an unidentified sovereign fund investing in Bitcoin ETFs, indicating institutions are seeking exposure to Bitcoin price fluctuations while avoiding the regulatory issues associated with holding the asset directly.
Pompliano also revealed insights from discussions with Bo Hines, from the President’s Advisory Council for Digital Assets, indicating that the U.S. government aims to not just hold confiscated Bitcoin but may also pursue additional acquisitions. The government is contemplating methods for these purchases, potentially utilising revalued gold sales or tariff revenues, with an interagency task force exploring options. This strategic move could reshape the U.S.’s geopolitical stance on Bitcoin, contrasting with countries that acquire it through mining.
