Wednesday, May 5, 2021

Morgan Creek Digital’s Anthony Pompliano Maps out a Scenario In Which Bitcoin Hits $1,000,000

Morgan Creek Digital co-founder, Anthony Pompliano, who is a popular Bitcoin maximalist, has mapped out a scenario in which the largest cryptocurrency by market capitalization attains the whooping milestone, $1,000,000.

Pompliano, in an interview with Stanberry Research, shared his 2021 Bitcoin (BTC) price prediction, and his long-term bullishness about the leading cryptocurrency.

Read Also: JP Morgan Says Bitcoin Is Poised to Triple Its Price as BTC Challenges Gold’s Status

The prominent Bitcoin investor stands by his 2019 prediction, targeting $100,000 for BTC before the end of 2021.

Anthony Pompliano noted:

“In order to have a true prediction, you have to predict price and also timeline… In 2019, I wrote a piece that said I believe that Bitcoin was going to go from around $10,000 at that time to $100,000 by the end of 2021… I still believe that. I haven’t changed it.

“Somehow I’m now the most conservative guy in the room because now there’s people saying $200,000, $250,000, $300,000, $500,000. Whatever the numbers are, I’m still gonna stick with $100,000.

 “When we look out over a very, very long time horizon. So if you give me the benefit of the doubt and say, ‘Hey don’t put a time prediction on it just tell me where the value of this thing goes,’ I absolutely think at some point in my lifetime we’ll see a $1 million Bitcoin price.

“But I don’t know if that necessarily has more to do with Bitcoin value accrual as much as the devaluation of the dollar over a long period of time – everything goes up in dollar prices from real estate, stocks, precious metals etcetera.

Read Also: Anthony Pompliano Says Warren Buffett Can Buy the Whole Bitcoin in Circulation, CZ Binance Reacts

“I think it’s a foregone conclusion. You just have to be able to stomach tons and tons of volatility… All that volatility scares a lot of people but if you’re a long-term holder, you do your research, and you get comfortable with it, then I think it can be a pretty amazing thing to put in a portfolio.”

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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