In a new interview with Yahoo Finance, Anthony Pompliano doubles down on his prediction that Bitcoin will reach $100,000 by the end of 2021.
The founder of crypto asset management firm Morgan Creek Digital explains his bullish outlook on the biggest cryptocurrency by market cap.
“I think by the end of 2021 we’ll see it eclipse $100,000. And really, that’s just driven by more institutional interest and then also a lot more global instability that we’re seeing the early days of today…
The important thing to remember about Bitcoin is that it’s a fixed supply asset and so supply and demand economics apply. If there are increases in demand, you’re going to see the price move up.”
Highlight: “By the end of 2021, we’ll see [bitcoin] eclipse a $100,000,” says @APompliano. Says $20,000 is the next level to watch, and also talks about Facebook’s Libra. https://t.co/xpAujlCWBd pic.twitter.com/6H27tCnfDK
— Yahoo Finance (@YahooFinance) July 9, 2019
Pompliano says Bitcoin’s all-time high around $20,000 is the key number to watch.
“$20,000 is a big one. It’ll set a new all-time high once it breaks through that… I think it’ll really pull people in…
But I don’t think we’re going to go from $12,000 where we are today to $50,000 or $100,000. I do think it’s going to take 6 to 24 months.”
A long-term Bitcoin bull, Pompliano, who says he holds 50% of his wealth in Bitcoin, says Facebook’s recent Calibra announcement is a strong signal.
“It’s really bullish for the digital currency in the sense that the more important part of the announcement is not Libra. It’s Calibra, which is the digital wallet that Facebook is reportedly going to give to hundreds of millions of people, if not billions of people.
That wallet, I think, will eventually support Bitcoin, Ethereum, tokenized securities and even data. So you can imagine something like your medical health records being tokenized and held in that wallet. I think it’s a really important moment where we give hundreds of millions of people the capacity to hold cryptocurrencies.”