Reserve

United

Bitcoin ETF

Bitcoin

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<ul> 
 <li>Anthony Pompliano, founder of Pomp Investments, shared his views on Bitcoin’s price during an appearance on a program.</li> 
 <li>Pompliano described Bitcoin as a ‘free-market asset,’ emphasizing the forward-looking nature of the markets. When discussing the broader market outlook, Pompliano highlighted the potential policy changes by the Federal Reserve as a significant factor.</li> 
 <li>Regarding the global distribution of Bitcoin ownership, Pompliano made a distinction between Bitcoin and hash rate, stating that approximately 35% of the hash rate is in the United States.</li> 
</ul> 
<p><strong>Anthony Pompliano, founder of Pomp Investments, expressed his opinions about the Bitcoin price in a program he attended.</strong></p> 
<h2 id="strong-pompliano-discusses-bitcoin-price-strong"><strong>Pompliano Discusses Bitcoin Price</strong></h2> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126528" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="Bitcoin-BTC" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-31.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>Anthony Pompliano, the founder of Pomp Investments, discussed the recent rally in Bitcoin’s price on December 6, 2023, during an appearance on the “Squawk Box” program. This rally propelled Bitcoin’s prices above $44,000.</p> 
<p>Pompliano defined Bitcoin as a ‘free-market asset,’ highlighting the forward-looking nature of the markets. He attributed the rally to investors allocating funds to Bitcoin, anticipating future value increases. Among the triggering factors were the potential for a Bitcoin ETF and the fact that about 70% of the circulating supply of Bitcoin has not moved in a year, indicating a strong holding sentiment despite asset appreciation.</p> 
<p>Pompliano mentioned that the 70% of dormant Bitcoin represents an all-time high and signals a feedback loop where limited selling and increasing prices further reduce selling, pushing prices higher. He also noted that both existing Bitcoin holders and new investors contribute to buying activity.</p> 
<p>Discussing the broader market outlook, Pompliano pointed out the potential policy changes by the Federal Reserve as a significant factor. He mentioned that markets are heavily pricing in the possibility of an interest rate cut in 2024, and this is reflected in Bitcoin’s price. He believes that this expectation aligns with the general expectation that central banks will need to print money to finance debt, making assets like Bitcoin more attractive.</p> 
<h2 id="strong-global-ownership-and-hash-rate-distribution-strong"><strong>Global Ownership and Hash Rate Distribution</strong></h2> 
<p>When discussing the global distribution of Bitcoin ownership, Pompliano made a distinction between Bitcoin and hash rate, stating that approximately 35% of the hash rate is in the United States. He acknowledged that determining ownership geographically is challenging due to wallet anonymity, but he claimed that the U.S. and Asia are significant players in the capital flow of the Bitcoin market.</p> 
<p>Pompliano discussed the potential for Bitcoin to equal or surpass the gold market value. He suggested that if Bitcoin were to only match gold, it could reach a valuation of $500,000. He also touched on the possibility of Bitcoin becoming part of the payment system, stating that this could significantly increase Bitcoin’s value.</p> 
<p>The interview also delved into the philosophical aspects of Bitcoin’s value. Pompliano argued that the rise of Bitcoin challenges traditional financial views, such as intrinsic value, representing a new worldview where the perceived value of Bitcoin can vary significantly among individuals.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/anthony-pompliano-examines-the-current-outlook-for-bitcoin-price-whats-the-target-dollar/">Anthony Pompliano Examines the Current Outlook for Bitcoin Price: What’s the Target Dollar?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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Anthony Pompliano Examines the Current Outlook for Bitcoin Price: What’s the Target Dollar?

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