According to U.Today, Anthony Pompliano, a venture capitalist and Bitcoin advocate, shared a tweet about Bank of America's recent prediction that the US government may have to make a massive payout of $1.6 trillion in annual interest payments by December if the Federal Reserve does not cut interest rates. Many commentators suggested that this situation could lead to higher inflation in the US and mentioned Bitcoin as a potential inflation hedge and possibly the new money standard for the US economy if the US dollar fails.
Pompliano appeared on CNBC's Squawk Box on April 1, discussing Bitcoin with the team of anchors. He explained that different people perceive Bitcoin as different types of assets, such as a risk-on investment or an inflation hedge/store of value. He gave examples of investors buying spot Bitcoin ETFs for profit and those investing in Bitcoin directly to protect their money from inflation. Pompliano also mentioned that in countries like Argentina, users prefer stablecoins backed by USD, while in Nigeria, many people stack Sats. He highlighted recent milestones for Bitcoin, such as its continuous growth for half a year and reaching its highest weekly, monthly, and quarterly close. In the past, such progress has led to Bitcoin appreciating by at least 300%. At the time of writing, Bitcoin is trading at $65,529 after falling 6% from the $69,700 level.
