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Cryptocurrency News Articles
Anthony Pompliano Warns the US Risks Falling Behind as Other Nations Prioritize Bitcoin (BTC) Adoption
Dec 28, 2024 at 02:57 am
As the global race for Bitcoin (BTC/USD) adoption intensifies, Anthony Pompliano, founder and CEO of Professional Capital Management, has issued a stark warning: if the United States does not prioritize Bitcoin, it risks falling behind as other nations take the lead.
Anthony Pompliano, founder and CEO of Professional Capital Management, believes that the United States needs to prioritize Bitcoin (CRYPTO: BTC) adoption if it wants to remain competitive in the global digital economy.
In an interview with Fox Business on Thursday, Pompliano said that various countries are already actively mining, buying and holding Bitcoin.
“We know other countries are mining, buying, holding Bitcoin, and so are we going to let these other countries be the leader, or are we gonna be the leader? And I think that's really the decision they have to make,” he said.
According to Pompliano, the U.S. has a choice to either lead the world in this emerging technology or get left behind.
He drew a parallel between the strategic acquisition of physical assets, like the Panama Canal and Greenland, and the strategic acquisition of digital assets like Bitcoin.
“Owning Bitcoin is digital real estate. There's only 21 million that will ever exist. I think that's really the way to think about it,” said Pompliano.
The Pro Capital founder also addressed the common concern about Bitcoin’s volatility and the psychological challenge of buying at higher prices. He likened it to past hesitancy about investing in the S&P 500.
“If you go back to the 1980s or 1990s, buying the S&P 500 was real scary, but you were a genius if you did it in hindsight,” said Pompliano.
He advised that the best time to buy was yesterday, and waiting will likely only lead to missed opportunities.
While noting the excitement in the crypto community about the new administration, Pompliano clarified that the industry is simply growing up.
“I think the crypto industry is growing up. We're seeing these companies behave just like other large companies, including donating to the inauguration of President-elect Donald Trump,” he said.
Pompliano also touched on the role of government involvement in Bitcoin, acknowledging the potential for criticism if politicians buy it.
“We have a president that's currently in office and also politicians who are literally day trading assets. And so it's no different,” he said.
According to Pompliano, the main story of 2025 is the integration of crypto into the mainstream financial system, which will bring both benefits and challenges.
“I think the crypto industry is going to continue to grow up. We're going to see more integration with the financial system, which will bring benefits and challenges,” he said.
On Bitcoin’s future, Pompliano said that he believes the apex cryptocurrency will continue to dominate and likely see an inflow of capital from traditional finance.
“I think the future of Bitcoin is very bright. I don't have a specific price target, but I'm bullish on the future of Bitcoin,” he said.
Reiterating his point of other countries already getting involved, Pompliano added, “There’s a lot of other countries who have already bought, they're mining, they’re holding Bitcoin.”
He said that the U.S., as the world's largest capital market, also needs to be involved in Bitcoin and that would help reduce any hesitation other countries may have about adopting it.
“I think the U.S. has a choice to make here. We're either going to lead the world in this emerging technology or we're going to get left behind. And I think that's really the decision that they have to make,” he said.
Pompliano also referenced the use of Bitcoin as a sanctions hedge, highlighting Russia's actions in that respect.
“I think the other interesting story is Bitcoin as a sanctions hedge, which is something that Russia has talked about and taken actions towards,” he said.
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