Anthony Pompliano has something to say about the price of Bitcoin these days. Just check out the post that he dropped on his social media account below.
There is literally not enough Bitcoin available for all the institutions that want to buy it.
I have been saying for 18+ months that the halving plus historic money printing was going to be rocket fuel.
You’re living through it now.
— Pomp 🌪 (@APompliano) January 6, 2021
A follower said: ‘Yes, you are right; however, when the Dollar starts to crash, and inflation finally hits the supermarkets, people are going to experience an economic shock 5 X greater than 08. We will panic, and the rush to GOLD will begin. Gold is money, not Bitcoin.’
A commenter posted this message: ‘People with knives and scales to buy would make me laugh! Then a guy walks up with his crypto debit and cha-ching! Done! Gold is a resource tied to necessity as a resource. Thus price capped. Finite crypto is supply/Demand=Value. Going up by the min!’
Someone else said: ‘Also, an asset like real estate which has been bubbled up for 20 yrs just popped this year because of Covid. There is 228T in real estate. Imagine the fear of commercial is feeling after this year. If that deflates to 220T, that would be an increase of 200k in #BTC.”
What happens when all BTC is mined?
A follower posted an interesting question: “Pomp, what happens when the 21 MIL $BTC are mined? How will miners – who are crucial to the blockchain network – find the drive to continue their energy-intensive computing when no reward is there to offset their efforts? I believe they will increase the “finite” supply then, no?”
A commenter answered: “That’s a question left to be answered 100 years from now. Most likely, it will be via on-chain transaction fees. Plus, miners will likely have evolved to become nation state-level facilities key to national security and prosperity.”
Other than this, there are all kinds of optimistic predictions about BTC these days.