Get the scoop on finance - sign up for mobile alerts
Bitcoin
| On
September 3, 2023

Bitcoin Could Witness Both Demand and Supply Shock, Says BTC Bull Anthony Pompliano – Here’s How

By Daily Hodl Staff

Longtime Bitcoin (BTC) bull Anthony Pompliano says that the crypto king may witness two types of shocks in the coming months that could lead to an encore of the 2020 bull market.

In a new CNBC interview, Pompliano says that regulators will eventually green-light a spot-based Bitcoin exchange-traded fund (ETF).

ADVERTISEMENT

According to the venture capitalist, Bitcoin could enter a full-blown bull market if the approval of a Bitcoin ETF happens around the time of the next BTC halving.

We have futures-based ETFs. I think we will get a spot Bitcoin ETF. The question is when. 

One of the things people are not talking about though is this ETF is going to be a demand shock. There are going to be assets to flow into this industry when that occurs. But the closer and closer we get to the halving, it will coincide with a supply shock in that halving, and I think that we could see a repeat of 2020 where we go up quite significantly in price if that occurs.” 

The halving, which slashes BTC miners’ rewards in half, is estimated to take place in April 2024.

ADVERTISEMENT

Pompliano expects blue-chip investors to flock to the leading cryptocurrency as soon as a Bitcoin ETF hits the market.

“If you’re a retail investor and you want exposure to Bitcoin over the last two, three, five years, you probably figured out a way to do it. So I don’t think there’s a ton of inflows [coming] from retail investors. 

I do think though that sovereign wealth funds or very large institutions, they’re not going on Coinbase and buying spot Bitcoin. I think that’s where the ETF inflows could happen.” 

At time of writing, Bitcoin is trading for $25,872.

I

ADVERTISEMENT
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney