Bitcoin (BTC) Reserve Needed As Global Race For The Crypto Heats Up – Pompliano

Founder and CEO of Professional Capital Management Anthony Pompliano has emphasized the importance of Donald Trump setting up a national Bitcoin (BTC) reserve.

Anthony Pompliano, Founder and CEO of Professional Capital Management, has highlighted the importance of Donald Trump setting up a national Bitcoin (BTC) reserve. The entrepreneur also shared some thoughts on the selection of the next SEC chairman, which may have more bearing on altcoins than Bitcoin.

There’s A Global Race For Bitcoin – Pompliano

In a recent interview with Yahoo Finance, Anthony Pompliano spoke about the crypto market’s positive response to Trump’s electoral victory.

According to Pompliano, investors are buying into the Republican President-elect’s promises to implement crypto-related manifestos. He said this belief is supported by the recent price surges as investors are getting into positions to benefit from Donald Trump’s promised crypto-friendly administration.

Anthony Pompliano stressed the need for the incoming US President to follow through on his promise to set up a national Bitcoin reserve. He said it’s not just about the US keeping its current Bitcoin tokens but also actively buying more of the cryptocurrency.

According to Pompliano, this buying strategy is needed because there’s a global race for Bitcoin, which is proving to be a strong hedge against inflation. Hence, the US local, state, and federal governments should get involved and aim to acquire as many Bitcoins as possible.

Like Bhutan with a $1 billion BTC sheet, Pompliano is urging Trump to follow suit but on a larger scale of $100 billion BTC, which he said is small compared to the US national spending.

Pompliano: No Clear Favorite For New SEC Chair

While commenting on Donald Trump’s appointments, Anthony Pompliano said he doesn’t have a favorite candidate to be chairman of the US Securities and Exchange Commission (SEC).

With Gary Gensler’s turbulent tenure coming to a close, the Professional Capital Management boss said the new SEC Chair should be “smart, measured, and pro-crypto.”

Interestingly, Pompliano also agreed with the interviewer that this new appointment and the SEC’s policy moving forward will have more regulatory implications for altcoins than Bitcoin. He explained that Bitcoin, despite being the king of the crypto market, has already gained enough regulatory clarity, as has Ethereum. Hence, altcoins, especially those with ETF applications like Solana, stand to gain more from any improved regulatory regime.

At the time of writing, Gary Gensler’s replacement is still unknown, with several candidates reportedly being considered. These candidates include Wall Street lawyer Richard Farley, Robinhood Chief Legal Officer Dan Gallagher, former SEC Commissioner Chris Giancarlo, and former SEC General Counsel Robert Stebbins, among others.