Bitcoin Bull Pompliano Makes Crazy Forecast For 2021
Bitcoin bull Anthony Pompliano talked about his concerns about cryptocurrency. Anthony Pompliano, co-founder of Morgan Creek Digital, shared his 2021 Bitcoin price predictions and the risks of Bitcoin causing him to lose sleep.
In an interview with CNBC, Pompliano analyzed ways to reduce the overall value of Bitcoin and cryptocurrencies. Pomp said the two biggest things he was worried about were errors in the code and a possible geopolitical attack. Pompliano used the following statements:
“If there is a bug or something like that in the code, the first thing is always a spontaneous wound. The second thing would be some kind of geopolitical risk where we see the really aggressive coordinated action of multiple nation states. ”
Despite his concerns, Pomp has made it clear that he thinks Bitcoin will still rise. He says that the price of Bitcoin is falling with supply and demand, and ultimately, there are less and more people who want it.
“I think these are unlikely to happen, so it looks like nothing like this will happen in the short term.”
Pompliano cited a new study by Pantera Capital saying that Square bought about 40% of the daily incoming supply. PayPal, on the other hand, buys around 70% of this supply, according to the study.
Price Will Increase Aggressively
Pomp also shared his thoughts on the 2021 Bitcoin price. Bitcoin bull Pompliano used the following statements:
“I think the key point people coming from Wall Street should understand is that most Bitcoins will not sell their Bitcoins. 63% or more of Bitcoin has not moved in the past 12 months. So what you’re really seeing is just an increase in demand. The low supply is raising the price and I think this will continue until 2021, and the price will increase quite aggressively from here. “
Pomp goes on to list several key macro factors that he believes will increase the demand for Bitcoin in the next year. He predicts that low interest rates and inflation will continue throughout 2021, especially with the appointment of US Treasury Secretary Janet Yellen, whom he said will be Bitcoin’s biggest ally.
“If you look at Janet Yellen as the Minister of the Treasury – she is famous for claiming higher inflation levels – the Federal Reserve is targeting inflation above 2% for a sustained period of time.”
According to Pomp, if these bullish macro factors remain in place and institutional players gradually increase the supply, Bitcoin could be worth over $ 100,000 in 2021:
“I don’t think it’s all that crazy to see $ 100,000 of Bitcoin by the end of 2021. And if bigger buyers keep coming ..