In an interview with a major media outlet, Antony Pompliano, founder and CEO of Professional Capital Management, expressed his hope that Donald Trump, the newly elected president of the United States, will redefine the country’s approach to the cryptocurrency market. He also made some notable revelations. Let’s find out more. Read on!
Trump's Bold Move on Bitcoin
During his campaign, Republican leader Donald Trump promised that he would create a pro-crypto environment if elected. He has made some harsh statements against Democrats over their handling of key issues facing the crypto industry, notably criticizing US SEC Chairman Gary Gensler.
Highlighting Donald Trump's love for Bitcoin, Pompliano described him as a pro-Bitcoin president. He highlighted Trump's promises regarding protecting the rights of cryptocurrency investors, especially Bitcoin investors.
Create a Bitcoin Reserve
It is rumored that Donald Trump plans to create a national Bitcoin reserve soon. Previously, some people close to Trump hinted at the possibility of creating a BTC reserve. Speaking about the rumored plans for this reserve, Pompliano asserted that Trump will create a national Bitcoin reserve within 100 days.
BTC Growth Outpaces US National Debt
In August, the US government debt was $35.3 million. By October, it peaked at $36 million, marking a 1.98% increase from August. During the same period, the Bitcoin market increased by at least 7.58%.
In the past 30 days alone, the market has seen a gain of more than 35.4%. Since November 5, the day of the US presidential election, the market has skyrocketed 27.51%.
Pompliano suggests that Bitcoin could be used as a hedge against rising debt. Reports indicate that a number of experts, including Tom Lee, have similar views on Bitcoin.
Bitcoin price spikes to record high
Currently, the price of Bitcoin is hovering around the important $90,000 mark. It could surpass this mark at any time. Previously, Pompliano predicted that the Bitcoin market would reach $100,000.
Referring to BTC's growth potential, he reaffirmed his previous forecast, stating that reaching $100,000 is now just a matter of time. Emphasizing the importance of institutional interest, he noted that institutions will play a key role in Bitcoin's future growth.
In short, with Trump's support and growing institutional interest, Bitcoin's role in US economic policy could be redefined, signaling a new era of digital assets.
