Will Warren Buffett and Jamie Dimon buy Bitcoin at $250k? Pompliano strongly believes so


 

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Rapid bitcoin Rally

bitcoin has surged approximately 30% in the past month, with significant price spikes in the last two weeks. This is due to growing enthusiasm surrounding bitcoin spot ETFs and regulatory developments, including rulings in the SEC vs. Ripple lawsuit.

Optimistic Outlook

bitcoin recently surpassed the $35,000 mark, which hasn’t been seen since May 2022. This breakthrough has led to a wave of bullish optimism, with many viewing the recent surge as genuine and sustainable.

bitcoin as the “Most Disciplined Central Bank”

In a CNBC interview, Anthony Pompliano referred to bitcoin as the “most disciplined central bank” globally. He highlighted bitcoin‘s unique characteristics that differentiate it from traditional financial institutions and other cryptocurrencies.

Supply and Demand Shock

Pompliano explained that bitcoin‘s price surge from $3,000 to its peaks resulted from a supply and demand shock. Factors such as aggressive money printing and low interest rates led investors to seek bitcoin as a store of value. With current high interest rates and an aversion to further money printing, renewed interest in bitcoin may arise.

Possible Approval of a bitcoin ETF

Pompliano believes that the approval of a bitcoin ETF might be closer than previously thought. BlackRock, a leading asset management firm, has started seeding a bitcoin ETF, indicating preparations for eventual approval.

bitcoin‘s Unique Nature

Pompliano emphasized that bitcoin is a decentralized protocol that doesn’t rely on a central authority. Even if governments impose restrictive measures, bitcoin‘s global nature would likely ensure its continued adoption.

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bitcoin‘s Desirable Attributes

Pompliano’s assertion that bitcoin is the “most disciplined central bank” stems from its finite supply of 21 million coins. This contrasts with traditional central banks that can issue an unlimited number of bonds. bitcoin‘s scarcity and decentralized nature make it an appealing asset, especially during times of economic uncertainty.

At press time, bitcoin is trading at $34,197, reflecting a 0.74% decline over the past 24 hours.



### News source: zycrypto.com

By Team