Anthony โPompโ Pompliano Discusses Grayscaleโs Legal Win Against the SEC
In a recent appearance on Fox Businessโ โThe Claman Countdown,โ entrepreneur and cryptocurrency investor Anthony โPompโ Pompliano commented on Grayscaleโs legal victory over the SEC. He highlighted that the American legal system allows for disputes between market participants and regulators to be resolved in court. The judge ruled in favor of Grayscale, prompting Pompliano toย say that the SEC now faces a decision: whether to approve Grayscaleโs Bitcoinย (BTC) trust conversion into a spot ETF or consider other pending ETF applications. He claimedย that regulators should focus on creating fair markets instead of picking winners and losers, suggesting that all pending applications should be approved simultaneously.
Bitcoinโs Market Status and Probable Price Surge
Pompliano stated Bitcoinย (BTC) as a โmacro assetโ characterized by high illiquidity. He pointedย outย that around 70% of circulating Bitcoinย (BTC) is held by long-term investors who havenโt sold in the past year. Drawing parallels to the conditions preceding the 2020 bull run, he believes a similar setup is developing. Pompliano anticipates that ETF approvals will create a demand shock, while the upcoming Bitcoinย (BTC) halving will act as a supply shock, potentially driving the assetโs price significantly higher.
Speculation on Bitcoinย (BTC) Futures and the Stablecoin Market
Pompliano addressed speculation about the SEC rescinding its approval of Bitcoinย (BTC) Futures to strengthen its argument against spot Bitcoinย (BTC) ETFs. Althoughย while acknowledging the regulatory authorityโs capacity to change regulations, he considered a rollback unlikely. He expressed confidence that ETF applications, including those from major players like BlackRock and Fidelity, would likely be approved before year-end. Pompliano likewise highlighted a prediction by Bernstein that the stablecoin market couldย accomplish a $3 trillion market cap, potentially propelling the entire digitalย currency market, including Bitcoin, to exceed $10 trillion in market cap.
Coinbaseโs Regulated Leadership and Probable Success
Pompliano praised Coinbase, in which he has been an investor since its early days, for being a regulated leader in the American financial system. He commended the companyโs expansion into lending to institutions and believes that if the cryptocurrency industry succeeds, Coinbase has theย capacity to become one of the major infrastructure winners.
Hot Take: Insights from Anthony โPompโ Pompliano
Anthony โPompโ Pompliano provides valuable insights into the cryptocurrency market, from discussing Grayscaleโs legal win against the SEC to highlighting Bitcoinโs market status and probable price surge. He addresses speculation around Bitcoinย (BTC) Futures and predicts the stablecoin marketโs growth. Inย addition, Pompliano praises Coinbase for its regulated leadership and probable success in the cryptocurrency industry. Overall, his analysis offers valuable perspectives for cryptocurrency enthusiasts and investors.
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