Could Banning Bitcoin Ignite a $70K Rally? Insights from Anthony Pompliano

In a recent podcast, Anthony Pompliano, co-founder of Morgan Creek Digital, discussed Bitcoin's potential to hit $70,000.

He argued that strict regulations from a hostile political leader could actually boost Bitcoin adoption, as seen in countries like Pakistan, Nigeria, and China, where crackdowns have led to increased public interest.

Pompliano noted that attempts to restrict Bitcoin often backfire. He stated, “A hardline stance against Bitcoin might raise its price,” highlighting how bans can drive demand. He also suggested that Kamala Harris and Donald Trump have similar views on cryptocurrency regulation, countering the notion that Harris is more anti-Bitcoin.

Emphasizing Bitcoin’s decentralized nature, Pompliano claimed that no government can truly diminish its value. He argued that a U.S. ban would harm users more than Bitcoin itself, thanks to its resilient structure.

READ MORE:

Vitalik Buterin Slams Michael Saylor’s Push for Institutional Bitcoin Custody

Pompliano predicted that as Bitcoin gains mainstream adoption, its volatility will decrease, allowing it to outperform traditional assets like the S&P 500. He criticized Goldman Sachs’ forecast of a mere 3% annual return for the S&P and dismissed bonds as poor investments, especially in inflationary times.

He noted that Bitcoin’s price movements are influenced by broader economic cycles rather than just regulatory changes. Although he expects significant price increases, he cautioned investors to temper their expectations for explosive returns, as Bitcoin matures and stabilizes.

Alexander Stefanov