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Anthony Pompliano Claims Donald Trump Owns Bitcoin, Hinting at BTC's Future as a US Reserve

Wed, 13 Nov 2024, 03:00 am UTC

Trump’s Bitcoin stance points to a potential policy shift in U.S. finance. Credit: Wikimedia Commons

Anthony Pompliano, a prominent Bitcoin advocate, has revealed Donald Trump’s Bitcoin ownership, suggesting it could shape U.S. economic policies. Trump's pro-Bitcoin stance may propel BTC to a strategic position within the government’s financial strategy, impacting Wall Street and beyond.

Donald Trump’s Pro-Bitcoin Stance Could Transform U.S. Economic Policy

In a recent appearance on Fox News, Anthony Pompliano—founder and CEO of Professional Capital Management—offered his thoughts on Donald Trump, the newly elected president. Donald Trump's support for Bitcoin, as he has already stated, has the potential to alter the United States' stance on digital asset markets and cryptocurrencies.

Per Pompliano, our president is strongly in favor of Bitcoin and has pledged to defend the rights of Bitcoin holders. He elaborated on how this groundbreaking strategy would revolutionize the nation's economic policy.

He claimed that Trump owns bitcoin and plans to use it to fund a national security fund. Pompliano stated, "This is a flag being planted in the ground," and predicted that the reserve will be constructed within 100 days.

Central Banks Eye Bitcoin as a Global Store of Value

He said that central banks around the world were looking for the ultimate store-of-value asset, and that was the driving force behind this shift. While Bitcoin's price has been climbing continuously for the past 15 years, Pompliano emphasized the cryptocurrency's track record of showing its worth. He likened Bitcoin to a "global alarm system" that is sounding the alert about impending dangers to established monetary systems.

The national debt has grown by more than $850 billion due to politicians' actions in only the last three months. On that day, Bitcoin's value increased by almost 40%. “If we compare the rise in national debt with BTC’s growth, both are racing skyward. But this largest cryptocurrency is poised to win that race,” Pompliano declared.

Bitcoin as a Strategic Asset in U.S. Debt Management

He is joined in this view by Tom Lee, Head of Research at Fundstrat, who had previously proposed Bitcoin as a "potential Treasury reserve asset" with special potential for use in national debt management.

And he's back with his contentious prediction that Bitcoin will reach $100,000—this time he says it's only a matter of when, not if.

Pompliano went on to talk about how Bitcoin's price has been going, saying that the currency recently jumped about $90,000 in a single day. "Bitcoin had one of its most impressive days in history yesterday, rising over 13%," he said.

Wall Street Reacts to Under-Allocation in Bitcoin

As strange as it may seem, this price movement was not caused by major news, but rather by Wall Street discovering that the largest cryptocurrency was under-allocated.

As an example, it reached a new all-time high of $89,933 on Monday evening, from a trading price of $76,000 at the US markets' closing last week. That increase exemplifies a major structural difference: the fact that the U.S. stock market trades around the clock while being closed for a significant portion of the week, Coingape explains.

"That creates an interesting dynamic," Pompliano remarked. On Mondays, Wall Street investors often rush to keep up with market developments since they missed the price activity during the weekend.

Bitcoin’s Resilience and Rising Institutional Interest

This action, along with the fact that Bitcoin is traded continuously, demonstrates the asset's sturdiness and increasing power. As a non-correlated asset that is immune to conventional market forces, Pompliano sees this momentum as evidence of Bitcoin's robustness.

He foresees that institutional investors will fuel additional expansion, drawing the attention of Wall Street to Bitcoin. With the new pro-Bitcoin president in office, Bitcoin's great potential as a global financial power and strategic reserve is unlocked. As its significance grows, Wall Street is paying more and more attention to the asset.

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Great article. Requesting a follow-up. Excellent analysis.

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Great article. Requesting a follow-up. Excellent analysis.
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