Bitcoin BTC/USD advocate and Morgan Creek Digital co-founder, Anthony Pompliano on Tuesday expressed unwavering confidence in Bitcoin’s long-term dominance despite market fluctuations, asserting that the apex crypto is the king of the cryptocurrency market which will not die.
What Happened: "Most kings are centralized…but the beauty of Bitcoin is that it's decentralized…It is rules without rulers,” he said in an interview with Fox News.
Pompliano will further discuss Bitcoin's potential at Benzinga’s Future of Digital Assets event on Nov. 19.
While the past few years have humbled Pompliano regarding market predictions, his conviction in Bitcoin's future remains steadfast. In 2019, he boldly predicted Bitcoin would reach $100,000 within 2.5 years.
Though the asset didn't reach that target, rising sixfold instead, Pompliano conceded that "price predictions are a fool’s game," admitting, "Bitcoin helped to humble me."
Despite this, he affirmed, "I haven't changed my mind on anything," continuing to buy Bitcoin both personally and professionally.
By 2023, Pompliano had renewed optimism, declaring on CNBC's Last Call that "Bitcoin and the crypto industry are not going anywhere."
He acknowledged Bitcoin's cyclical nature, citing historical crashes and recoveries as evidence of its resilience.
"Young people want these assets, and they're going to continue to buy," he said, anticipating a rally catalyzed by the 2024 Bitcoin halving, media attention, institutional interest, and Bitcoin ETF approvals.
Pompliano observed that institutional appetite for Bitcoin surged dramatically in 2024, with Wall Street firms investing heavily.
"Wall Street doesn't just like Bitcoin. They love Bitcoin," he stated, referencing the substantial inflows into Bitcoin ETFs by firms like BlackRock and Fidelity.
Also Read: Bitcoin Nears $90,000—How High Can The Apex Crypto Go?
Why It Matters: Looking to the future, Pompliano envisions significant growth for Bitcoin.
He recently suggested that Bitcoin could reach between $100,000 and $200,000 in the next 12 to 18 months, driven by supply-demand dynamics and the upcoming halving event, which he believes will further constrict Bitcoin's supply.
“If this continues, that we have 12.5 times more demand… this thing's going back to its all-time high. It's pretty much guaranteed," he predicted.
Pompliano also highlighted Bitcoin's unique value as a hedge against inflation and the devaluation of fiat currencies, framing it as a key component of the global economy.
He suggested that Bitcoin's role could become even more pronounced during shifts in monetary policy, especially as the Federal Reserve's recent interest rate cuts add liquidity that may benefit the crypto market.
Despite previous setbacks in his predictions, Pompliano's influence remains strong in the crypto community, making him a frequent speaker at industry events.
His upcoming appearance at Benzinga’s Future of Digital Assets event on Nov. 19 will delve deeper into Bitcoin's trajectory, the impact of global economic policies, and the next potential catalysts for the market.
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