Pomp: Corporations and Central Banks Will Add Bitcoin to Their Balance Sheets
Of course they will, everybody wants some Bitcoin.
Bitcoin bull and hedge fund manager Anthony Pompliano says a new class of capital will make its way into Bitcoin.
The Morgan Creek Digital co-founder tells CNBC’s Market Alert that Bitcoin is growing into an asset that attracts investors from all sectors of the financial landscape.
Pompliano says that the Federal Reserve has implemented new money printing policies that have already inspired small and large investors to place their funds in store of value assets such as metals, real estate and most notably, Bitcoin.
“Jerome Powell and the Federal Reserve ran a $3 trillion marketing campaign for store of value or inflation hedge assets in 2020 and whether you believe inflation is actually going to occur or not there’s a fear of inflation and so investors are moving capital into precious metals, Bitcoin, real estate, etcetera.
I think that Bitcoin has been the big winner out of that group… Now what we’re watching is we’re watching Bitcoin really go from a contrarian trade on Wall Street to a consensus trade.
You had retail come in first, now you have institutions and I think next you’ll see corporations. Everyone from Fortune 100 companies on down will start to put Bitcoin on their balance sheets and then eventually we’re going to see central banks around the world start to put this into their reserves. Right now we’re kind of transitioning from retail to institutions and after that we’ll go from institutions into the corporates.“