Laden...
The Presidential Bitcoin Conference Begins
To investors, The Bitcoin Conference starts today in Nashville. This will be the largest gathering of bitcoiners in the world. Historically, the conference has served as an opportunity for companies to make major announcements. We have already seen one company this week, Fold, announce their plans to go public with at least 1,000 bitcoin on their balance sheet. Here are a few predictions I have for this year’s conference: President Trump will speak at the conference and call for the United States to create a national strategic reserve of 1 million bitcoin. This rumor has been floating around for a few days and I feel like it has a good chance of being true. Elon Musk will attend the conference and speak about a renewed interest in bitcoin given the undisciplined fiscal and monetary policy. Bitcoin will hit a new all-time high within 7 days of the conference ending if President Trump strongly embraces bitcoin and/or calls for the national strategic reserve. Major financial institutions will compete with each other to position themselves as “the most bitcoin friendly” to the audience. There will be at least one cringe moment on stage that is taken out of context by the mainstream media, so they can run with a few negative headlines. Usually I would not expect a large price impact from the conference, but former President Trump is a wild card here. If he fully supports bitcoin and starts pushing the narrative that the US should buy a significant amount, it is not hard to see other nations trying to front-run the US to buy some bitcoin. Lastly, it is telling that bitcoin has become so entrenched with politics. We have seen state and local politicians competing with each other over the last few years — there were mayors and governors claiming their jurisdictions were the “Bitcoin Capital of the World” and the mayors of NYC and Miami were competing to see who would take more of their salary in bitcoin. Bitcoiners have long claimed this competition would come to national politics and determine geopolitical outcomes as well. It feels like we are on the edge of that moment now. We know at least two of the three Presidential candidates support bitcoin (Kennedy and Trump). This weekend will tell us a lot about where bitcoin sits on the global stage. If you go to the conference, email me on Sunday with any of the lessons you learned or takeaways you had. I would love to learn from each of you. Have a great day and I’ll talk to everyone tomorrow. -Anthony Pompliano Founder & CEO, Professional Capital Management Johann Kerbrat is the Vice President and General Manager of Crypto at Robinhood. In this conversation, we talk about what they are building, who is using the product, surprising data points, Bitstamp acquisition, licenses, and future outlook for crypto and Robinhood. Listen on iTunes: Click here Listen on Spotify: Click here Anthony Pompliano on CNBC’s Squawk Box Talking About Ether ETF LaunchPodcast SponsorsDomain Money makes financial planning simple. No hidden fees and no sales pitches - you get a personalized roadmap to your goals, from dream vacations to retirement. CrossFi isthe Apple Pay for Crypto. For the first time in history, anyone with a web 3 wallet can spend crypto through a physical or virtual Visa card where Visa is accepted. Domain Money makes financial planning straightforward and accessible. Meanwhile is the world’s first licensed and regulated life insurance company built for the Bitcoin economy. iTrustCapital allows you to buy and sell cryptocurrency in a tax-advantaged crypto IRA. Open and fund an account today to receive a $100 USD funding bonus. BetOnline - Use crypto to bet on sports, casino games, horse racing, poker and more with promo code POMP100. ResiClub - Your data-driven gateway to the US housing market. Professional Capital Management - Anthony Pompliano’s asset management firm is now on Linkedin. Please subscribe by clicking here. You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren’t finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research. You're currently a free subscriber to The Pomp Letter. For the full experience, upgrade your subscription.
© 2024 |
Laden...
Laden...