Crypto investor Anthony Pompliano (aka “Pomp”), who is a co-founder of Morgan Creek Digital as well as the host of The Pomp Podcast, says that Bitcoin continues to be the top cryptoasset in terms of outlook.
During an interview with Andrew Ross Sorkin, co-anchor of CNBC’s Squawk Box on November 29, Pompliano claimed that Bitcoin is the king of cryptoassets, and that it has the best looking fundamentals in the industry. He noted that the vast majority of Bitcoin investors are profitable.
As reported by The Daily Hodl, Pomp told Sorkin:
“If you look at how many people [who] hold Bitcoin are in profit, so basically wherever they bought Bitcoin, what that price was compared to now, 89-90% of people are in profit…
“While we have an undisciplined monetary and fiscal policy, I’m not selling my Bitcoin. There are millions of other people who aren’t selling their Bitcoin and demand continues to increase.“
“The US dollar price has to move up over time to accommodate everyone.“
Despite the successes of Ethereum and other top altcoins, Pomp called Bitcoin the “king” of crypto and stated the market revolved around the movement of BTC:
“I think that Bitcoin is by far still the king. When it moves, everything else kind of moves with it. If Bitcoin goes down, other things tend to move down. That is changing a little bit, but I think it’s still true for the most part.“
According to Pomp, investors may rotate away from Bitcoin to altcoins as the price increases, but eventually they return to BTC. He said the market is maturing to the point that investors are becoming interested in less volatile assets, such as large cap projects.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.