Bitcoin and Crypto Bull Anthony Pompliano: The World Is Not Ending
Anthony “Pomp” Pompliano, founder and partner at blockchain and crypto investment firm Morgan Creek Digital Assets, has been fielding a flurry of phone calls from his clients about the plummeting price of Bitcoin – off 75% from its all-time-high nearly one year ago.
In an open letter, Pomp fans the flames with the long view, reminding clients that “Bitcoin is acting as we anticipated” – at a new yearly low below $4,500.
“It is a fixed supply asset with increasing demand that will be subjected to the benefits of supply and demand economics.”
“Bitcoin is not a traditional asset. There is no monetary policy decision that will be the catalyst for a recovery. The government can’t deem it too big to fail. There is no one who can step in and halt trading. Bitcoin lives and dies on its own.”
“Bitcoin and crypto will survive. In fact, these are the dog days of a bear market that ensure that the future will be even more exciting than the past.”
Pomp adjusted his year-end price prediction back in August, when he moved the goal posts for Bitcoin’s next parabolic climb – to $50,000 – from 2018 to December 2022 or January 2023.
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