Anthony Pompliano, a podcaster and venture capitalist, has made an extremely optimistic forecast for bitcoin. He believes that the impending halving event will not be the reason why the price of digital gold will continue to rise much past $50,000.
“Bitcoin price has to go higher”: Pompliano
Pompliano, also known as “Pomp” on Twitter, used this tool to anticipate the price of Bitcoin significantly. The angel investor thinks that the flagship cryptocurrency will go above the $50,000 mark that it attained yesterday.
Pompliano did not offer any precise forecasts. But he said, “The price has to go higher.” The expert predicts that as Bitcoin rises, users will begin to sell their holdings, and Wall Street funds will buy them all up to meet their steadily rising demand.
https://x.com/APompliano/status/1757073342538858858?s=20
The impending Bitcoin halvening event in mid-April was not mentioned by him. Following that, the daily production of Bitcoins will be reduced from 900 to 450 BTC, a half. As of the now, 12.5 times the amount of BTC generated everyday is being absorbed by Bitcoin ETFs, claims Pomp.
Bitcoin ETFs break 30-year record
Many analysts predict that following the halving, people will begin buying even more Bitcoin on a daily basis. In less than a month of trading, the Bitcoin ETFs introduced by Fidelity and BlackRock have already seen inflows of over $3 billion, shattering the 30-year record held by ETFs.
Pompliano discussed Bitcoin during his Monday interview on CNBC’s Squawk Box programme. He stated that Wall Street’s preferred asset is now the most popular cryptocurrency in the world.
In line with this theory, Gabor Gurbacs, a digital asset advisor at VanEck and Tether, tweeted that since “Bitcoin ETFs allow holders to use Bitcoin as a collateral and gain access to credit and leverage in the traditional markets,” other financial institutions are likely to follow suit and soon begin launching spot-based exchange-traded funds. He believes that when more institutions start to realise this, the present amounts of liquidity flowing into ETFs will be “nothing compared to what’s coming.”
