Anthony Pompliano, founder and CEO of Professional Capital Management, recently appeared on Varney & Co. to share his views on the growing interest in Bitcoin and the intensifying global race to accumulate the digital asset. Pompliano believes that investors and policymakers, institutions and governments, are significantly underestimating the scale of Bitcoin acquisition. During the discussion, Pompliano noted that Bitcoin remains one of the most clearly defined assets in the financial space, noting that it is widely accepted as a commodity rather than a security. However, regulatory uncertainties regarding taxation and corporate participation still remain. “The big thing in my mind was the United States saying, ‘We’re going to create a strategic Bitcoin reserve,’” Pompliano said. “People are vastly underestimating how aggressive they’re going to be in buying Bitcoin.” Related News: HOT MOMENTS: FED Chair Jerome Powell Speaks LIVE After Interest Rate Decision - Here's What to Follow He noted that countries such as Russia, Abu Dhabi, El Salvador and Bhutan are also actively purchasing BTC, creating a competitive environment reminiscent of the space race. According to Pompliano, the current US administration is focused on ensuring that America gains a dominant position in the Bitcoin market. During the interview, with Bitcoin trading at $84,000, Pompliano was asked about potential future price points. Rather than giving a specific timeline, he compared Bitcoin’s trajectory to that of gold, which has grown from a few dollars’ worth to a multi-trillion dollar asset. “I think Bitcoin will be worth millions of dollars one day,” he said. “The question is, what is that time frame? Is it a five-year period or a 15-year period?” He added that Bitcoin's fixed supply and sound monetary principles make it a unique store of value, strengthening its potential to surpass gold's $20 trillion market value. *This is not investment advice. Continue Reading: Cryptocurrency Millionaire CEO Anthony Pompliano Speaks About the Future of Bitcoin: “It Will Be Worth A Few Million Dollars”
