- Bitcoin has reached its highest weekly, monthly and quarterly closing price.
- With the upcoming halving, the daily supply is expected to drop from 900 to 450.
2024 was a phenomenal year for Bitcoin [BTC]from the launch of ETFs to the upcoming halving.
In a recent conversation on CNBC's “Squawk Box,” Anthony Pompliano, investor and host of the “Pomp Podcast,” highlighted the king's coin's role in the financial landscape.
He noticed,
“We just hit a really important milestone before the halving. We just had the highest weekly monthly and quarterly close for Bitcoin.”
This highlights Bitcoin's price volatility, which always attracts a wave of speculators looking to profit from market dynamics.
Bitcoin and its different viewpoints
Pompliano highlighted the complex nature of Bitcoin and its buying potential, noting that the true impact of this milestone only becomes clear in retrospect.
He stated,
“I think for some people it’s an asset risk, but for others it’s a hedge against inflation or a store value.”
Given concerns about currency devaluation and rising inflation, many see Bitcoin as protection against asset losses.
This idea became popular after influential investors and hedge fund managers praised BTC as “digital gold,” a way to protect against the decline of traditional currencies.
Pompliano drew parallels to Bitcoin’s historical pattern of price action, adding:
“The last four times this has happened, Bitcoin has gained at least 300% as the bull market continues.”
This highlights the unprecedented nature of the pre-halving milestone and suggests possible bullish implications.
The upcoming Bitcoin halving
As the Bitcoin halving approaches, Pompliano noted that the daily supply of king coins will drop from 900 to 450, signaling a significant shift in the cryptocurrency's supply dynamics.
With expectations of increased demand for ETF approvals and a halved daily supply of Bitcoin, the future looks bright.
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