The co-founder of digital asset fund Morgan Creek Digital, Anthony “Pomp” Pompliano, is a well-known profile in the cryptocurrency industry. Now, Pompliano is suggesting that the current macroeconomic climate will help push Bitcoin to new heights. In a recent interview, Pompliano said he believes Bitcoin is on the verge of a massive 1,420% bull run.
Pompliano believes Bitcoin is on the verge of a 1,420% bull run
Specifically, these comments came during a recent interview on the Tech with Catalina YouTube channel. In the interview, Pompliano touches on a variety of different topics – including DeFi, the upcoming Bitcoin halving and the prospect of a US digital dollar.
However, the perhaps most notable part of the interview relates to Pompliano’s thoughts on the future price of Bitcoin. Pompliano guides a massive upcoming Bitcoin bull run, driven by the gloomy macroeconomic climate and the Bitcoin halving.
Toshi Times recently reported how fresh data shows Americans are buying crypto with their $1,200 stimulus checks. Moreover, it is less than a month left until the Bitcoin halving event, which observers believe could make the Bitcoin price reach an inflection point.
$100,000 Bitcoin by next December?
The Bitcoin halving will effectively cut Bitcoin’s future supply in half. As such, stock-to-flow (S2F) models suggest Bitcoin’s price should increase massively. According to Pompliano’s recent comments, he believes Bitcoin could rally by 1,420% – from its current price of $7,040 to $100,000.
Furthermore, Pompliano suggests that Bitcoin could rally and reach $100,000 as soon as by the end of next year. In addition to the current macroeconomic circumstances, Pompliano also references the Federal Reserve’s controversial “quantitative easing forever” measures:
“So [by the] end of 2021, I think Bitcoin will hit $100,000 in US dollar value. And really, the reason for that is a combination of the macro-environment with the halving structure […] You then have massive quantitative easing. [In] the United States, we’ve announced two trillion dollars in stimulus. Japan just approved an almost one trillion dollar stimulus plan.”
“We will see a very material increase in price”
Consequently, Pompliano’s bullish comments are clearly guiding a massive increase in the price of Bitcoin. However, he suggests that this surge will be incremental at first – and will eventually build to a more material one.
“Within the first 18 months of the halving, give or take, we will see a very material increase in price. My guess is that we’ll see $100,000 by the end of December 2021 at a minimum.”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.