Anthony Pompliano Anticipates AI and Bitcoin’s Contribution to Wealth Building
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On June 24, Anthony Pompliano, founder of venture capital firm Pomp Investments, expressed his views on the economic impact of AI and Bitcoin. He predicts that AI will generate wealth, and Bitcoin will play an important role in preserving and growing this wealth in the coming decade.
Deep Dive into the Reasons Behind Anthony Pompliano’s Forecast
In a recent interview on CNBC Television, Anthony Pompliano discussed the potential for wealth generated from the AI sector to flow into Bitcoin as a preferred store-of-value asset, suggesting a symbiotic relationship between the two technologies over the next decade.
Pompliano further explained that there’s a potential cause-effect that could see the United States’ gross domestic product (GDP) increase due to the productivity gains from AI and Bitcoin’s ability to protect wealth.
At press time, the Bitcoin market is on a continuous bearish downtrend, with the cryptocurrency hitting a seven-week low of $58.8K on June 24 and now hovers at the $61K price level.
Before this fall, the data from Santiment revealed a drop in BTC Whales transaction activities between June 22 and June 23. Transactions dropped by 42%, from 17,091 to 9,923, coinciding with Bitcoin’s price bearish sentiment.
The recent declines in BTC’s price have also been attributed to several factors, including negative speculations about the upcoming sale of $8.5 billion worth of Bitcoin by the defunct exchange Mt. Gox and over $1M outflow from the spot Bitcoin ETF market.
These factors contributed to the recent “Fear” rating of 30 out of 100 on the Crypto Fear and Greed Index, which suggests a massive sell-off amid bearish sentiments.
However, Pompliano remains optimistic about Bitcoin’s future, thus urging traders and investors to focus on the long-term potential of AI and Bitcoin rather than short-term fluctuations.
The Pomp Investments founder remains confident that Bitcoin’s role in protecting wealth will become increasingly important as AI generates more wealth and argues that current market downtrend conditions present a buying opportunity for investors.
BTC Market Sees Surge in Moonshot Predictions Despite Bearish Trends
When the Bitcoin market was bullish in March 2024, Robert Kiyosaki predicted the Bitcoin price to hit $100K by September 2024. Still, there has also been a surge in optimistic forecasts for BTC’s price despite its recent decline.
MicroStrategy’s Executive Chairman, Michael Saylor, during a podcast discussion with Robin Seyr on June 24, shared a bullish prediction, suggesting that BTC could skyrocket to $10 million per coin in the coming years due to its perceived “economic immortality.”
He asserted that as more retail and institutional investors, including the nation, adopt Bitcoin, its demand will rise, thus projecting its value to a moonshot.
In a similar vein, analysts at Bernstein released a report on June 17, projecting that BTC’s price could hit $1 million by 2033, with a cycle-high estimate of $200,000 by 2025. Bernstein’s forecast attributes Bitcoin’s potential surge to the unprecedented demand from spot ETFs and the cryptocurrency’s constrained supply.
