- Anthony Pompliano, Morgan Creek Digital co-founder was heard talking about how investors have shifted their focus to cryptocurrency.
- Pompliano further went on to state his views about his earlier prediction on BTC’s price.
- He draws attention to the fact of how these investors have started seeing BTC as a hedge against market volatility.
Anthony Pompliano has reportedly shared his reasons as to why he thinks Bitcoin price will hit $1,00,000 by the end of 2021. Besides that, he was also heard talking about how investors have shifted their focus to cryptocurrency. He is the co-founder of crypto asset management firm Morgan Creek Digital Assets.
Yahoo Finance took to twitter on May 13 regarding the interview with Pompliano. He asserts that a huge crowd of investors has started to put BTC in their portfolios. His view is that king crypto is not fading. And thus he believes this very fact will not let banks ignore the space.
— Yahoo Finance (@YahooFinance) May 13, 2020
Pompliano talks about his earlier prediction of BTC price hitting 1,00,000 figure by end of 2021
That being highlighted, he further went on to state his views about his earlier prediction on BTC’s price. Pompliano had earlier said that he was 75% confident BTC will hit the 1,00,000 mark by 2021.
In the same context, he expects bitcoin will result in the best performing asset due to the ongoing crisis presently. He stresses on the fact that the BTC price he has predicted is almost ten-fold than the current price. Pompliano further stresses that BTC needs to achieve this increase in a relatively short time period.
Institutional investors have started to view BTC as a hedge against market volatility
Furthermore, Pompliano believes that at present there exist two groups of people. Wherein one group belongs to those who have gained familiarity with the crypto and are getting exposure. Whereas the other group belongs to huge institutional investors. Pompliano believes the latter group is realizing the uniqueness of the asset besides other issues. Issues such as how the asset can improve their Sharpe ratio and can result in increased performance. Therefore, he draws attention to the fact of how these investors have started seeing BTC as a hedge against market volatility.