Bitcoin bull Pompliano says BTC will outperform gold and ‘leader in recovery’
According to Anthony Pompliano, founder and partner of Pompe Investments, Bitcoin's true monetary principles make it superior to gold, especially after the upcoming supply halving.
Speaking during an interview on Fox Business on April 17, Pompliano expressed his bullish stance on the pioneering cryptocurrency, saying Bitcoin (BTC) has performed better than any other asset in the four years since the last halving.
“The last half, we're four years later. It was eight thousand dollars. Today it is $64,000. Name any other asset that has done well in a four-year cycle,” Pompliano said, citing concerns about Bitcoin's recent correction.
Although Pompliano On April 12, despite the collapse of the crypto market, Bitcoin was not the only asset that was damaged. Gold and other financial markets also fell due to escalating geopolitical tensions in the Middle East.
Bitcoin is down more than 9%, while Ether (ETH) is down 8% since Iran launched drones and missiles at Israel on Saturday, April 13. According to data from TradingView, the S&P 500, Nasdaq 100 and gold index (XAU) fell 1.83%, 3.5% and 5% respectively during the same time frame.
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Pompliano said.
“So, when people see Bitcoin going down on Saturday, they're like, ‘Oh, my God! Bitcoin is down!” So is gold and any other open financial market.
The investor explained that during times of political uncertainty, investors start “selling anything liquid in US dollars” and thus sold Bitcoin along with gold, stocks and bonds.
Pompliano believes that when the dust settles, bitcoin will lead the recovery and continue another four-year cycle after the halving.
“What will happen, on the way back, Bitcoin will be the leader in recovery, and my guess is that it will continue to perform like the last four years, for the next four years.”
He also said that bitcoin and gold hold true monetary principles because they are “assets that no one outside the system can create.” Also, people looking for “bottom protection” should buy gold because it is less volatile. However, Bitcoin is the best option for those who want to increase their purchasing power.
“The digital version of a product is always bigger and more valuable than the analog version. And Bitcoin will one day be worth more than gold.
The upcoming Bitcoin halving is going to have a huge impact on market volatility. Pompliano said the event, which is days away, could be a “sell-news event” but advises investors to always buy bitcoin for the long term.
“I always tell people if you buy bitcoin and you're trying to predict what the price will be in an hour or a day, a week or a month, it's probably a fool's errand. Instead, what you should think about is, “This is a savings technology. “
The investor reiterated his belief in dollar-cost averaging of bitcoin — investing a fixed dollar amount in BTC every now and then, saying that people who do this long-term are “going to do great.”
Pompliano told the Fox Business anchor that bitcoin makes up more than 50% of his portfolio.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
