On April 17, 2024, a leading crypto expert appeared on CNBC’s “Squawk Box” to discuss several key topics concerning the cryptocurrency market, including the Bitcoin halving, recent market volatility, and the future outlook for Bitcoin.

Anthony Pompliano, also known as “Pomp,” is a prominent figure in the cryptocurrency and blockchain industry. He is an entrepreneur, investor, and host of the popular podcast “The Pomp Podcast.” Pompliano is the co-founder and partner at Morgan Creek Digital, an investment firm focused on blockchain technology and digital assets. Before his role at Morgan Creek Digital, Pompliano worked at Facebook and Snapchat in product and growth roles, bringing his expertise in technology and social media to the cryptocurrency space.

Pompliano is also a veteran of the U.S. Army, having served in Operation Iraqi Freedom. He is known for his bullish stance on Bitcoin and has been a vocal advocate for the cryptocurrency, often sharing his insights and opinions on the potential impact of blockchain technology on the global financial system. His podcast, “The Pomp Podcast,” features interviews with influential figures in the world of business, finance, and technology, providing a platform for discussing the latest developments and trends in the cryptocurrency industry.

Active on social media, particularly Twitter, Pompliano engages with his followers and shares his thoughts on the cryptocurrency market and its future prospects. His expertise and insights have been featured in various media outlets, including CNBC, Bloomberg, and Forbes

Pompliano addressed the recent volatility in Bitcoin’s price, which had seen significant fluctuations amidst geopolitical tensions and other market dynamics. He contextualized Bitcoin’s current situation by reminding viewers of its significant rise from $42,000 at the beginning of the year to $62,700, marking it as one of the best-performing assets of the year, with an 800% increase since the last halving. He highlighted the underperformance of gold compared to Bitcoin, noting that gold had not only risen less in price but had also failed to keep up with inflation, thereby not protecting purchasing power as effectively as Bitcoin.

Pompliano attributed much of the price movement to the introduction of US-listed spot Bitcoin ETFs and anticipatory actions leading up to the Bitcoin halving (expected on April 20). He discussed the market dynamics, including the role of these ETFs in stabilizing the market and attracting new institutional investors. Despite the ETFs’ stabilizing potential, he noted that weekends still showed pronounced volatility due to the traditional banking system being closed, preventing new money from entering the market efficiently.

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He explained that the Bitcoin market is becoming less sensitive to geopolitical shocks, suggesting a maturation in the market’s response to global events. This desensitization, he believes, aligns with a broader financial trend where assets gradually exhibit decreased volatility to recurrent types of geopolitical risks.

Discussing the upcoming Bitcoin halving, Pompliano predicted a significant market movement post-halving due to the reduced supply of Bitcoin and ongoing institutional interest. He projected that while the market might not see immediate drastic price changes, the six months following the halving would likely show substantial market activity and potential price increases.

Pompliano noted that most hardcore Bitcoin enthusiasts are fully invested, suggesting that significant new capital would likely come from traditional financial institutions (Wall Street). He observed that these institutions are still in the early stages of understanding and integrating Bitcoin, particularly the nuances of the halving and its implications. He speculated that Wall Street’s cautious approach might delay their investment until they perceive optimal timing, possibly waiting for a price correction.

For the future, Pompliano expressed optimism, suggesting that Bitcoin could surpass $100,000 in the next 12 to 18 months, potentially reaching up to $150,000 to $200,000. He emphasized that while the market may not experience the same explosive growth as in previous cycles, the downside risk is becoming increasingly muted, indicating a maturing market that offers both high upside potential and reduced volatility:

"In terms of upside, I think we get over 100,000 in the next 12-18 months. Maybe we could get to 150 to 200, somewhere in that range, but … I just don’t think people should expect the explosive 1000% move from here through the rest of the bull market."

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• Lähde: https://www.cryptoglobe.com/latest/2024/04/exploring-bitcoins-enticing-risk-reward-ratio-with-morgan-creek-digital-co-founder/