dailyhodl.com
Pomp Investments founder and Bitcoin bull Anthony Pompliano says BTC‘s rally is likely far from over.
In a new interview with CNBC, Pompliano says the crypto king is on its way to surpassing and potentially doubling the market cap of gold.
Furthermore, Pompliano expects the biggest crypto by market cap to blow past its all-time highs soon.
“As we near the record high, if we go back and look at past record high breaks or when we eclipse the old all-time high, three of the four times, Bitcoin doubled in 18 days or less. So you think about hat for a second. Once you break through an all-time high, that’s price discovery. What is this thing worth? The world is going to try and figure that out.
BTC just edged past its previous all-time high of nearly $69,000, which was set on November 10th, 2021, on multiple major exchanges including Coinbase, Binance and Bitstamp. It has since dipped back down and is currently trading for $65,321.
Pompliano also expects Bitcoin to ultimately surpass gold. With the yellow metal currently commanding a market cap of roughly $14 trillion, the investor says that BTC should eventually more than double that.
“Some people are looking for Bitcoin to be 10% or 50% of the market cap…
It will go past gold eventually. Bitcoin is a 10x improvement on gold. If you are a 10x improvement, to be two times the market cap makes sense.”