During the midst of the COVID-19 pandemic, Anthony Pompliano, the founder of Morgan Creek fund, made a bold claim that Bitcoin could potentially reach a value of $400,000 in the long term, resulting in a total capitalization of $8 trillion for the largest cryptocurrency.
In an interview on Fox Business, Pompliano urged the Securities and Exchange Commission (SEC) to approve all applications for the launch of spot crypto ETFs.
He also advocated for the SEC to allow the creation of funds investing in both BTC and Ether, as this would attract a significant influx of capital into the digital currency market.
Pompliano believes that once this innovative instrument is introduced, the bullish phase for cryptocurrencies could begin immediately. He further predicts that the SEC’s approval of BlackRock’s application to issue crypto funds, focused on BTC and ETH, could fuel this upward trend.
Finally, Pompliano emphasizes the importance of the SEC approving all applications at the same time to avoid concerns of unfair competition among asset managers suspecting that their competitors have ties to US authorities.