So, the Morgan Creek Digital co-founder Anthony Pompliano sees Bitcoin (BTC) to be the top asset.
More so, during an interview on CNBC’s Squawk Box, Pompliano states that Bitcoin still shows massive bullish fundamentals.
So, Anthony Pompliano explains.
“If you look at how many people [who] hold Bitcoin are in profit,…”
“so basically wherever they bought Bitcoin, what that price was compared to now,…”
“89-90% of people are in profit…”
“While we have an undisciplined monetary and fiscal policy, I’m not selling my Bitcoin…”
“There are millions of other people who aren’t selling their…”
“Bitcoin and demand continues to increase.”
Then, Anthony Pompliano adds.
“We just saw this morning that Invesco is going to launch an (exchange-traded product) ETP with spot Bitcoin…”
“and I think you’re going to continue to see products like that come to market….”
“Demand increases your fixed supply asset.”
“The US dollar price has to move up over time to accommodate everyone.”
Furthermore, Anthony Pompliano affirms that Bitcoin’s influence on the market indicates it’s still the king of the market. Of course, this still stands, despite the move of other coins like Ethereum (ETH) and Solana (SOL).
Then, Anthony Pompliano continues.
“I think that Bitcoin is by far still the king. When it moves, everything else kind of moves with it…”
“If Bitcoin goes down, other things tend to move down…”
“That is changing a little bit, but I think it’s still true for the most part.”
Additionally, He explains that even though investors are trooping into other projects, they will return back to bitcoin.
Then, Anthony Pompliano concludes.
“Ultimately what you see is you see some rotation going on…”
“Sometimes you’ll see Bitcoin move up and then people will move into some of the…”
“other cryptocurrencies, then they’ll come back into Bitcoin.”
Lastly, crypto investors look for less volatile market assets to enter, just like in stocks and other financial markets according to Anthony Pompliano.
“There’s still a market structure that’s at play here…”
“Large caps are going to be less volatile than small caps in bull markets and in bear markets,”
“So I think that as people push out on the risk curve during a bull market,…”
“they kind of always come back to those less volatile assets in the bear market.”
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