Boost

Bitcoin

when

<a href="https://www.thecoinrepublic.com/2024/09/24/will-bitcoin-surpass-gold-with-a-123-ounce-ratio-to-a-new-high-of-323k/">Anthony Pompliano</a>, a co-founder of Morgan Creek Digital, argues that government crackdowns on Bitcoin (BTC) may increase its adoption. He draws attention to examples in countries like Pakistan, Nigeria, or China, where restrictions lead to crypto interest booms. 
Pompliano agreed that attempts to ban Bitcoin “just highlights how resilient it is,” with people trying to find alternatives to government-controlled currencies. He said the more governments try to suppress <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/">Bitcoin</a>, the more people will come around to it. 
Citizens increasingly conclude that government interference is no longer possible in countries with strict anti-crypto laws. This means, in turn, they will move towards decentralized digital assets to gain greater financial freedom. 
He also said that Bitcoin’s decentralized nature protects it from government interference. A nation can tighten its laws, and it still doesn’t stop moving. Pompliano asserted, 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “They can’t hurt Bitcoin itself, but the citizens can suffer temporarily.” 
</blockquote> 
<h2 class="wp-block-heading" id="h-pompliano-predicts-adoption-despite-political-opposition">Pompliano Predicts Adoption Despite Political Opposition</h2> 
Speaking on the potential impact of U.S. political candidates on Bitcoin, Pompliano dismissed the idea that Kamala Harris will be more hostile to it than other candidates. He mentioned that she has gained support from both pro-crypto and anti-crypto groups. 
For instance, JPMorgan CEO Jamie Dimon, a critic of crypto, and Ripple co-founder <a href="https://www.thecoinrepublic.com/2024/10/22/ripples-chris-larsen-donates-10m-to-kamala-harris-super-pac/">Chris Larsen,</a> a crypto champion, both back Harris. Even if the hostile candidate were elected, Pompliano said, strict regulations could lead even more people to Bitcoin. 
Similar to the drug trade and nicotine, he compared it to other industries where prohibition only pushed demand into other channels. However, in this case, more regulation could draw more attention to Bitcoin because people will come to understand that the government cannot control decentralized assets. 
He was clear that Bitcoin’s adoption is not tied to any particular political figure. Since politicians have different opinions, its decentralized nature will allow everyone to use it still globally. It’s still attractive to more users, particularly where governments oppose cryptocurrencies. 
<h2 class="wp-block-heading" id="h-market-maturity-brings-stability-and-smaller-returns">Market Maturity Brings Stability and Smaller Returns</h2> 
Pompliano commented on Bitcoin’s current market position, highlighting its maturation and growing stability. However, as it continues to gain mainstream acceptance, its volatility decreases, and the returns to an investor are less volatile but smaller. 
He said that while Bitcoin is unlikely to make the same kinds of exponential gains it achieved in the past, it provides better returns than traditional assets. He said Goldman Sachs’ prediction of 3 % annual returns on the S&amp;P 500 in the next 10 years is ‘inappropriate and incorrect,’ arguing Bitcoin is a better bet. 
When it comes to bonds, Pompliano reminded people that bonds are a terrible investment, especially during times of inflation, when the real return on bonds is negative. He thinks Bitcoin would outperform stocks and bonds in the long run. 
Last week, the halving event reduced the supply of new Bitcoin into the market. He warned investors not to expect exponential growth. This supply shock is part of a stage for future price increases, he stated. 
Even as Bitcoin continues to ascend in value, such an ascent inevitably means a broader market cap, more mainstream adoption, and bigger but, by default, not unrealistically sized returns. 
The post <a href="https://www.thecoinrepublic.com/2024/10/24/anthony-pompliano-bitcoin-bans-could-boost-adoption-globally/">Anthony Pompliano: Bitcoin Bans Could Boost Adoption Globally</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Anthony Pompliano: Bitcoin Bans Could Boost Adoption Globally

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 24, 2024

L2 Rollup Masih di Fase Honeymoon? Ini Dampaknya ke Ethereum

NIGHT CROWS - PLAY Token Shop Open Event (Changed)

Payments Giant Stripe Acquires Stablecoin Platform Bridge in a $1.1B Deal

Analysts Split on Bitcoin ETF Options: Keeping the Respect in Coin Controversy

Tomarket to Perform TOMA TGE on October 31

These 6 Altcoins Are Set to Deliver 800x Returns by February 2025: A High-Growth Opportunity

Join our free newsletter for daily crypto updates!