Anthony Pompliano, a well-known Bitcoin advocate and venture capitalist, predicts that Bitcoin will become the primary asset for safeguarding wealth generated by artificial intelligence (AI) in the next ten years. In a recent interview with CNBC, Pompliano, the founder of Pomp Investments, emphasized the importance of Bitcoin in protecting the substantial wealth expected to be created by AI.
Pompliano dismissed the idea that AI has replaced Bitcoin and the broader cryptocurrency industry as the new tech trend, instead believing that the two technologies will complement each other. He highlighted AI’s potential to significantly increase global GDP through improved productivity, with Bitcoin serving as a protective measure to preserve that wealth.
Despite recent negative sentiment surrounding Bitcoin’s price performance, Pompliano remains confident in the long-term potential of the cryptocurrency. He pointed out that pullbacks of 30% or more are not uncommon during bull markets and highlighted historical patterns, suggesting another price rally could occur in late 2024 or early 2025.
Analysts at Bernstein have also suggested that Bitcoin could reach $1 million by 2033, with a projected cycle-high of $200,000 by 2025. They attribute this forecast to unprecedented demand from spot ETFs and the limited supply of the cryptocurrency. Additionally, several major corporate investors in Bitcoin, including Microstrategy, have seen significant profits from their investments, with MicroStrategy’s position now commanding a total valuation exceeding $14.59 billion.
In conclusion, Bitcoin’s role as a wealth protection asset for the AI-driven future is becoming increasingly recognized, with the potential for significant growth and profitability.