Pomp in a recent interview on CNBC Show and from tweets from his official Twitter account, Pomp shows his allegiance towards the most popular and valuable cryptocurrency in the world, Bitcoin.
Pomp who has been a Bitcoin advocate for a while now has also been in the forefront of Bitcoin Evangelists. He also has at one time in early 2019 advised Warren Buffett to purchase some Bitcoins.
The crypto community thinks Pomp has done so much in the past, spreading the Bitcoin gospel. But a recent tweet by Pomp shows that his present stance/faith in Bitcoin is nothing compared to that of the past.
I’m more bullish on Bitcoin today than I have ever been.
— Pomp 🌪 (@APompliano) 23 May 2019
Pomp Explains Reasons For Present Bitcoin Rally
Explaining the massive attention Bitcoin is receiving presently, causing a price surge above the $8,000 mark, which hasn’t happened for a while. Pomp believes there are two reasons for this.
As per his interview on CNBC, Pomp noted that some top exchanges like the CME and others are getting high trading volumes on Bitcoin. In his opinion, he says that it’s an indication that institutional traders and retail investors are fully convinced about Bitcoin.
Secondly, Pomp believes the 2020 halving on the Bitcoin network is a major propeller of the Bitcoin rally.
In another tweet, Pomp explains how important the halving is. In the tweet, he relates Bitcoin halving to the United States Treasury Department to cut the amount of dollar note printed into half. He says this will cause the value of the dollar to rise drastically.
Imagine if daily printing of US dollars was suddenly cut in half forever. Bankers would be FOMOing even though USD isn’t a scarce asset.
Now imagine what they’re going to do when the daily Bitcoin supply is cut in half for one of the scarcest assets in the world.
I can’t wait.
— Pomp 🌪 (@APompliano) 22 May 2019
Bitcoin Heading Towards $275k In 5 Years
Anthony Pompliano has recently predicted Bitcoins price hitting $275,000 in 5 years. ZyCrypto earlier reported this.
He opines that Bitcoin is the only asset that has the chance of a 20-50x increase in value within five years.
Bitcoin (BTC) price currently stands at $8,030.24 at the time of writing with a market cap of $142.3 billion.