Permabull Anthony Pompliano Calls Bitcoin The “Most Disciplined Central Bank” ⋆ ZyCrypto
The post Permabull Anthony Pompliano Calls Bitcoin The “Most Disciplined Central Bank” ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Bitcoin has experienced a remarkable rally, surging by approximately 30% in the past month. The most notable price spikes occurred in the last two weeks, driven by growing enthusiasm surrounding Bitcoin spot ETFs and significant regulatory developments, including pivotal rulings in the SEC vs. Ripple lawsuit. On Wednesday, Bitcoin breached the $35,000 mark, a level not seen since May 2022. This breakthrough has ignited a wave of bullish optimism among investors, with many now viewing the recent surge as genuine and sustainable That said, in an interview with CNBC, prominent cryptocurrency advocate Anthony Pompliano made a striking assertion. On Wednesday, he referred to Bitcoin as the “most disciplined central bank” globally, emphasizing its unique characteristics that set it apart from traditional financial institutions and even other cryptocurrencies. Pompliano’s comment came in the context of discussions about the possible approval of a Bitcoin spot exchange-traded fund (ETF). He stressed that the surge in Bitcoin’s price from around $3,000 to its subsequent peaks was driven by a supply and demand shock. Factors such as the aggressive printing of money and low interest rates prompted investors to flock to Bitcoin as a store of value. Given the current economic climate, with high interest rates and attempts to avoid further money printing, the stage may be set for a renewed interest in Bitcoin. The conversation then shifted towards the prospect of a Bitcoin ETF, which has been a topic of discussion for quite some time. Pompliano expressed his belief that an ETF approval might be closer than previously thought. Notably, BlackRock, a leading asset management firm, has recently begun seeding a Bitcoin ETF, indicating preparations for an eventual approval. Advertisement    “Blackrock is now going and seeding the fund in October. What you’re seeing is they’re getting prepared for the approval,”…
Filed under: News - @ October 27, 2023 1:24 am