Although the leading cryptocurrency Bitcoin has shown a downward trend for the last two days, its long-term upward trend and expectation continues.
At this point, the final evaluation came from Pomp Investments founder Anthony Pompliano.
Speaking to CNBC, the famous name said that increasing awareness of inflation is leading more and more Americans to Bitcoin (BTC).
Stating that more Americans are turning to and investing in BTC due to rising inflation, Pompliano said that Bitcoin's green closing for the last seven consecutive months is probably related to investors becoming more aware of inflation and the FED's tendency towards looser monetary policy.
“Bitcoin was in the green for seven consecutive months until last month. So why is Bitcoin rising?
Everyone says inflation is rising because it is falling, but inflation is falling year by year, but it is actually increasing every month.
Because people who see that the alarm bell is ringing in inflation and that inflation is actually rising, not decreasing, from month to month, buy Bitcoin.”
Touching on Spot Bitcoin ETFs, Pompliano stated that investors showed great interest in the new and extremely popular spot BTC ETFs, and claimed that Wall Street investors were probably turning to BTC ETFs and buying BTC only for its high potential growth.
“Bitcoin provides hope and protection to everyone.
While the US dollar lost 25% of its purchasing power in 4 years, Bitcoin gained over 800% in value.
“We are tracking the adoption of Bitcoin as a global store of value.”
*This is not investment advice.
