• Anthony Pompliano, Founder of Pomp Investments, is bullish on Bitcoin’s long-term prospects due to its underlying fundamentals strengthening
• He believes that the US SEC will eventually approve a Spot Bitcoin ETF, which could be a major catalyst for BTC’s price
• Pompliano is confident in this approval as high profile companies such as BlackRock have recently filed for a Spot Bitcoin ETF
Anthony Pompliano Bullish on BTC
Anthony Pompliano, founder of Pomp Investments, is optimistic about the potential of Bitcoin. The world’s largest cryptocurrency by market cap has seen an 85% increase in value since the start of the year and its underlying fundamentals are strengthening. This has given him confidence in BTC’s long term prospects.
SEC Approval Expected For Spot Bitcoin ETF
Pompliano also expects that the US SEC will eventually approve a Spot Bitcoin ETF. This would provide investors with easier access to investing in digital assets and could serve as a meaningful catalyst for BTC’s price. High profile companies such as BlackRock have recently filed applications for such an exchange-traded fund, however the SEC has dubbed them inadequate so far. Despite this setback, Pompliano remains confident about eventual approval due to Wall Street’s increased demand for access to BTC.
Halving Could Serve As Catalyst
The total supply of Bitcoin is slated to halve in April 2024 which could serve as another significant catalyst for its price. This event has historically led to surges in demand and value for BTC and could do so again next year if past trends are repeated.
Spot Bitcoin ETF A Meaningful Catalyst For Price
If approved by the SEC, a Spot Bitcoin ETF would represent an additional tailwind that could push up BTC’s value even further than it already has this year. It would also make it easier and more cost efficient for institutional investors to get involved with cryptocurrencies without having to manage their own wallets or accounts directly on exchanges.
Conclusion: Bright Future Ahead
In conclusion, Anthony Pompliano is extremely bullish on bitcoin’s future prospects due to its improving fundamentals and increasing adoption rates globally. He expects that when (not if) the US SEC approves a spot bitcoin ETF it will act as a major catalyst driving up prices even further than they currently are today – potentially leading us into another bull run similar to 2017/18. Ultimately only time will tell what happens but there seems to be plenty of reason for optimism right now!