Anthony Pompliano, a venture capitalist and angel investor with a strong presence on Twitter under the name “Pomp,” and who is well-known for his advocacy of Bitcoin, recently made a guest appearance on Fox News.
He clarified that both Bitcoin and other financial markets experienced declines over the weekend, yet he emphasized that Bitcoin was performing exceptionally well despite this trend.
Bitcoin has outperformed everything since 2020: Pomp
Despite the recent major decline in value over the weekend, Bitcoin, the largest cryptocurrency by market cap, has seen an eightfold increase since its previous halving in 2020, according to Pompliano’s statement to the anchor.
In the past, a Bitcoin investment was around $8,000. Currently, it’s priced above $62,000 on the market, having reached nearly $71,000 just last Friday. Pomp acknowledged that Bitcoin experienced a decline, but he emphasized that this trend extended to gold and other financial markets due to significant geopolitical issues in the Middle East. Investors panicked and sought U.S. dollars as a safe haven, leading them to sell not only Bitcoin but also gold, stocks, and bonds.
In spite of the market instability, Bitcoin has seen an eightfold increase in value since its last halving. disregard the turbulence caused by temporary price fluctuations.
The intangible form of sound currency, known as Bitcoin, is now valued above $1 trillion by investors worldwide.
It’s a pleasure to be here on Fox Business today with @cvpayne.
— Pomp 🌪 (@APompliano) April 16, 2024
Despite this, he pointed out that no other asset has experienced a price increase of 8 times its value within a span of only four years like Bitcoin has.
In the last halving event in 2020, Bitcoin’s reward for mining new blocks was cut in half from 12.5 Bitcoins to 6.25 Bitcoins. With the fourth halving coming up soon, miners will see their rewards decrease further to 3.125 Bitcoins per block they mine.
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2024-04-17 18:28