- Anthony Pompliano of Pomp Investments declares the Bitcoin accumulation race initiated by BlackRock’s BTC spot ETF application.
- Other firms like WisdomTree, Fidelity, and Valkyrie also applied for Bitcoin ETFs.
- Influential figures in the crypto space are optimistic about ETF approval for BlackRock and Fidelity.
Anthony Pompliano, the founder of Pomp Investments, declares that the race to accumulate Bitcoin has begun, citing the recent filing of a BTC spot exchange-traded fund (ETF) application by BlackRock, the world’s largest investment company. If approved, this would mark the first-ever crypto spot ETF in the United States.
The Great Accumulation Race is underway.Institutions and individuals are competing for their share of the 21 million bitcoin.Always enjoy taking with @SullyCNBC pic.twitter.com/faUMVNcvZy— Pomp (@APompliano) June 21, 2023
While speaking with CNBC Anchor Brian Sullivan in the “Last Call” segment, Pompliano noted that the institutions and individuals are all scrambling to get their share from the 21 million Bitcoin that is in circulation.
In the segment, Sullivan addressed Bitcoin as a “cool kid’s thing” and called BlackRock “the world’s most boring company.” The anchor then queried whether this ETF filing by BlackRock would hurt Bitcoin’s status in any way. Pompliano responded by noting:
If I go and talk to people on Wall Street if they own Bitcoin, they will tell me Bitcoin is the riskiest asset in their portfolio. If I then go and talk to people in the crypto community, they will tell me Bitcoin is the boomer coin and the most boring thing in their portfolio. And for me personally, as an investor that is where I want to sit. I want to have the riskiest asset in the conservative investor’s portfolio and I want to have the most conservative asset in the risk takers’ portfolio.
The tech investor stated these large asset managers, such as BlackRock, are now realizing Bitcoin’s power and allocating space in their portfolio for the largest cryptocurrency in the world.
Pompliano added how Bitcoin remains the king and that it will not change. The Pomp Investments founder believes Bitcoin will continue to prove to be the winner in the market, reminding investors to “buy great assets and never sell.”
After BlackRock’s filing, multiple asset management firms, such as WisdomTree, Fidelity, and Valkyrie, have submitted their own applications for a Bitcoin ETF. Influential figures within the cryptocurrency community have shown bullish sentiment regarding the potential approval of a spot BTC ETF for industry giants like BlackRock and Fidelity.
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