Although Anthony Pompliano acknowledges that Bitcoin may experience volatility in the near future, he continues to be bullish on the virtual currency in the long run.
Pompliano expresses his opinion on Bitcoin The founder of Pomp Investments is positive since the underlying fundamentals relating to the largest cryptocurrency in the world by market size are improving.
In April 2024, the total supply of Bitcoin is expected to halve, which has historically boosted its value.
BTC has already increased by roughly 85% from the start of the year as of this writing.
Is a Spot Bitcoin ETF on the horizon?
In addition, Pompliano is confident that the U.S. SEC will eventually approve a Spot Bitcoin ETF, which will likely be another positive factor for the cryptocurrency.
His comments are in line with the wave of features that the regulator has already deemed insufficient for such an exchange-traded fund. Pompliano, however, said the following at this time on CNBC’s “Squawk Field”:
He is confident in particular since BlackRock, a well-known company that just applied for a Spot Bitcoin ETF, is among the significant companies that have done so. BlackRock has a history of only applying for exchange-traded funds when it is confident that they would be approved.
