#1282 CNBC Sit Down | Bitcoin’s Bull Market Has Begun

Anthony Pompliano sat down with CNBC's Talia Kaplan. Topics include Federal Reserve, financial markets, interest rates, bitcoin, why he expects capital to flow into the asset class, and why he believes bitcoin bull market has begun. ======================= Auradine, a leader in web infrastructure solutions including blockchain, AI, and privacy, has unveiled the world's first 4nm Bitcoin mining systems, featuring breakthrough EnergyTune™ technology, setting new standards in performance and energy efficiency. The Teraflux™ product line from Auradine offers best-in-class performance, efficiency, and total cost of ownership (TCO), positioning it as the optimal choice for Bitcoin mining needs. With EnergyTune™, a patent-pending technology, Auradine's Teraflux™ systems enable rapid demand response and optimal energy usage, fostering a symbiotic relationship with electrical grids, and contributing to sustainable energy practices. Designed and manufactured in the US, Auradine's Teraflux™ product line not only ensures cutting-edge technology but also mitigates supply chain risks and provides increased supply chain resiliency. Visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.auradine.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ for more information the Teraflux bitcoin mining systems. ======================= Cal.com is leading the charge of scheduling platforms in the open-source sphere, offering you the chance to harness the efficiency previously reserved for elite corporations and tech gurus. That's right, Cal.com is transforming sophisticated calendar management into an accessible tool for all via a user-friendly interface. Discover how countless users are optimizing their time in unprecedented ways. Use code “POMP” for $500 off when you set your team up with Cal.com. ======================= Pomp writes a daily letter to over 250,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:02Anthony Pompliano?

  What's up everyone? This is Anthony Pompliano. Many of you know me as Pomp. You're listening to the Pomp Podcast, which is my effort to find the most interesting people in the world and sit with them for hours while I ask questions in an effort to learn. So it would mean the world to me if you would subscribe to the show on your favorite audio platform, watch episodes on YouTube, and tell your friends and family about the podcast. My goal is to help millions learn from the world's most interesting people. So let's get into today's episode. Hello, everyone. In this episode, I sit down with CNBC's Talia Kaplane, and we talk about the Federal Reserve, financial markets, interest rates, Bitcoin, why I believe so much capital is going to flow into this asset class, and whether I believe that the Bitcoin bull market has begun.

• 0:47Anthony Pompliano?

  This conversation was wide-ranging, and it's one of the longest sit downs that I've done with a mainstream journalist. And I really enjoyed the conversation, and hopefully it'll help you think better about the market and also learn a little bit about how I'm thinking about Bitcoin right now. Here is my conversation with Talia Kaplane.

• 1:03Speaker 01

  Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only.

• 1:27Anthony Pompliano?

  This episode is brought to you by Aradine. They're a brand new startup led by a number of Silicon Valley legends who just raised $81 million to build the future of internet infrastructure. You're probably wondering what that means. So let me explain. There are numerous new disruptive technologies that are being adopted simultaneously, from blockchain to artificial intelligence to zero knowledge technologies. In order to ensure that these technologies thrive in this new world, we need new infrastructure, and that is where Aradine comes in. They just launched their first product line called Terraflux, which is a Bitcoin miner powered by the world's first 4-nanometer silicon chip technology. These air-cooled, single-phase and dual-phase immersion cooling miners have unrivaled speed

• 2:10Anthony Pompliano?

  And efficiency. They have superior uptime and they leverage a brand new innovation called Energy Tune that allows miners to dynamically adjust the energy consumption and Bitcoin hash rate based on demand response needs of the electrical grids. Auradine is an ambitious company working on hard problems. I'm really impressed with them. And if you want to check out more, you can go to auradine.com. That's A U R A D I N E dot com. Go check them out at auradine.com today. This episode is brought to you by Cal.com. What do I have in common with Chad Hurley from YouTube, Toby from Shopify, and Alexis from 776 and the co-founder of Reddit?

• 2:49Anthony Pompliano?

  We all use Cal.com instead of Calendly, and we are all early investors as well. Cal.com is leading the charge of scheduling platforms in the open source sphere, offering you the chance to harness the efficiency previously reserved for elite corporations and tech gurus. If you like to have your calendar organized and be able to have an efficient exchange when scheduling, but you love all of the benefits of open source technology, then Cal.com is for you. They are transforming sophisticated calendar management into an accessible tool for all via a user-friendly interface. You can customize it and you can make your calendar work for you. Use code POMP for $500 off when you set up your team with Cal.com today. Again, go to Cal.com,

• 3:33Anthony Pompliano?

  C A L dot com, and use code POMP to get $500 off when you sign up. Cal.com, an open source tool that allows you to take back control of your calendar, be efficient when scheduling, and make sure that no one can steal your time.

• 3:49Speaker 02

  For months, we saw Bitcoin trade in a tight range, unable to surpass the $32,000 level. And now we're seeing Bitcoin hit fresh highs for the year, surpassing $44,000. So what's changed? Well, you know, obviously, price goes up because there's more buyers and sellers in the market. And so the question becomes,

• 4:08Anthony Pompliano?

  Why are people buying Bitcoin? And I think that it's a confluence of things. First of all, there's speculation around the Bitcoin ETF. As we get closer and closer to these kind of early January dates, I think people are just saying, look, there's higher probability that it's going to get approved. And if it gets approved, they believe the price is going to go up. So they want to own it before the approval, you know, pretty self-explanatory. Then if you go and you look at things in the macro environment, markets are forward looking. And so what people are anticipating is someone may say to themselves, okay, if we've had this kind of quantitative tightening, we've had interest rates rise at the fastest rate in history. We've been selling off assets off of the Federal Reserve's balance sheet. That's going to change at some point, right? If they continue to keep the economy tight, they're going to push us into a recession.

• 4:51Anthony Pompliano?

  And so when there is a return to quantitative easing, the thought process is that many assets, including Bitcoin, will rise very rapidly. And so you don't wait for them to return to loose monetary policy and then buy the assets. You want to buy it right before they return. And if you go and you look, you know, Bill Ackman has this bet that he thinks interest rates are going to be cut in Q1. The market is pricing in 100% probability of an interest rate cut by the end of Q2. I think there's a lot of folks who just say, look, I'm not going to wait. I'm just going to go ahead and start buying now. And so that's providing some pressure. There's a third thing that I think is pretty interesting. I recently was talking to somebody over at Coinfund, David Pakman, who leads their investment team. And he showed me a chart that essentially there's been three major crypto exchange CEOs who have left or quit or been fired from their role.

• 5:36Anthony Pompliano?

  We've had Arthur Hayes, we have Sam Beckman-Fried, and then we have CZ. After every single one of those, the market rallied pretty aggressively very shortly after. And the thought process being that whether it is perceived risk or actual risk, the market enjoys certainty. And so whenever there is some degree of certainty that's brought into the market, then people will allocate capital and obviously the price will go up. And so regardless of kind of what the actual reason for the price going up, I don't think you can point at one thing. But what we do see is that capital is flowing into the market. When you add in the fact that 70% of all Bitcoin circulation hasn't moved in a year, illiquid market, capital flowing in, price has to go up to accommodate everyone. And I think that it's only getting started right now.

• 6:18Speaker 02

  So do you think the positive momentum will continue into 2024? Do you think we'll continue to see this rally?

• 6:25Anthony Pompliano?

  Yeah, I mean, my message right now and why I've been, you know, doing so much media is just to explain to people, look, Bitcoin's bull market has begun. And when you look at these market cycles, historically, they've been kind of four-year market cycles in between these Bitcoin halvings. And so usually what will end up happening is you'll get about two and a half to three years from the bottom of the last bear market to the top of the next bull market. And then you'll get about a year, year and a half market correction. And so historically, that has been hundreds of percent up, and then you get about an 80% drawdown. Now, the next bull market and bear market, I don't know if it's hundreds of percent or tens of percent. I don't know if the drawdown is 30% or 80%, but definitely it is a very strong indicator that we now have bottomed at the last bear market.

• 7:08Anthony Pompliano?

  The bull market has begun, and the question now on everyone's mind is how high will Bitcoin go in this bull market?

• 7:14Speaker 02

  Speaking of the halving, Bernstein recently put out a report saying that it expects Bitcoin miners will outperform the broader market coming forward, thanks in large part to the Bitcoin halving. Do you see that happening?

• 7:28Anthony Pompliano?

  Well, right now, if we just look at 2023, so year to date, the S and P is up about 19%. The leading miners are all up somewhere between 250 and 300%. And so if you look at Bitcoin's performance, Bitcoin's up about 150 to 160%, depending on the day. And so the miners are outperforming in many cases, sometimes as much as 2X Bitcoin's price. And so you've got to ask yourself, well, why is that happening? And we've seen this debate before. The gold community has long debated, should you buy spot gold or physical gold? Or should you be buying these cash flowing gold mining businesses? Now, they have different risk reward profiles. But what we're seeing when it comes to Bitcoin miners is in 2023, they have been the better asset to have allocated to.

• 8:12Anthony Pompliano?

  Now, the question becomes, will that remain over a long period of time? The beauty of the Bitcoin community is many people are not speculating in the short term. They simply want a simple asset that they can dollar cost average into over time and hold it for years, if not decades. That's much easier to do with a commodity like Bitcoin than it is. Is with a cash flowing business that has a management team. They've got to navigate different market cycles. They've got to manage debt, et cetera. And so it all comes down to what the risk work earn profile you're looking for is. But so far, the miners are outperforming.

• 8:40Speaker 02

  We've also seen some demand for altcoins this year, for some altcoins. Take Solana, for example, its token soared more than 500% since January 1st. So what do you think is happening there?

• 8:52Anthony Pompliano?

  I think it's very similar to kind of traditional financial markets, right? The further that you push out on the risk curve, the higher the potential reward. You've got to get paid for the risk that you're taking. And so what we've seen with Bitcoin and other cryptocurrencies is the market tends to move kind of on a macro basis. And so when Bitcoin goes up, other assets will go up as well. In bull markets, that tends to mean that many of the altcoins will outperform Bitcoin for short periods of time. But the question in the upside case is, what is the durability, right? Many of these assets might outperform for three months, six months, even 12 months. But many of them then disappear over the long run. So Bitcoin has been that thing that remains resilient kind of over time. Now, the opposite is true when it comes to the drawdown, so the bear markets, right?

• 9:36Anthony Pompliano?

  Many times Bitcoin will actually draw down less than these altcoins. And so really, all you're seeing is Bitcoin is serving kind of, you know, the equivalent of maybe the S and P serves in the traditional market. Bitcoin is that for the crypto market. And so these other assets will trade with more volatility or kind of more severity to the moves. And so you've got to ask yourself, who are you, right? Do you want to be a trader? Are you looking for the highest risk possible? Or are you simply looking for a solid return and resilient asset that you can buy over time and hold for decades? And I think, you know, the way I've looked at it is when I talk to people on Wall Street, Bitcoin is the riskiest asset that they have in their portfolio. They can't believe that they've even allocated, you know, some small percent, half a percent, 1%, 2%. When I talk to people in the crypto world, they think of Bitcoin as the least risky asset in their portfolio.

• 10:21Anthony Pompliano?

  And so I've forever said, that's actually where I want to be. I want to have the asset that the conservative people think is risky. And I want to have the same asset be what the risky people think is conservative. And so that middle ground, I think, is really where a lot of people end up.

• 10:34Speaker 02

  And we'll talk more about that topic in a second. But data from S3 Partners shows that short sellers lost more than $6 billion in crypto-related bets, with half of those losses coming from Coinbase shorts. What does that signal to you?

• 10:52Anthony Pompliano?

  Shorting a market that can go asymmetric very quickly is usually not a good idea. And if you look at short selling generally across the market, right? In traditional finance, there are short sellers that have been doing this for a very long time. Through either shutting down their firms, they're returning capital. Or you have a lot of long short funds that are saying, look, we're just not going to short individual names anymore. There's just too much unpredictability, too much chaos. And so it just doesn't make sense from a risk reward standpoint. Well, that is all put on steroids in the crypto market, right? If you're not willing to short, let's say, an S and P 500 company. What are you doing shorting a company that can go up hundreds of percent? Coinbase specifically is up like 330 or 340% year to date. So if you're willing to short something that can go up 300, 400% in a given year, then you really better make sure you're right.

• 11:37Anthony Pompliano?

  And so what we've historically seen is just humans are really bad at market timing. And being long and something going down, at least you have the ability to kind of hold it for long enough for the market to come back. If you're short and it goes against you, you can lose a lot of money very quickly. And I think what you're ultimately seeing is not just in crypto, but across the market of finance. Many people are just saying, look, shorting is not worth it. And I think crypto is kind of the cherry on top, that they're just blowing out these shorts and saying, look, understand what the fundamentals are, get long and just be passive. And that's probably going to be a better strategy.

• 12:09Speaker 02

  Speaking on Capitol Hill, J P Morgan CEO Jamie Dimon said that if he was in the government, he would shut down crypto. What was your reaction to that?

• 12:19Anthony Pompliano?

  Jamie Dimon is probably one of the best bank CEOs in history. He's built a amazing business. I don't think anyone who understands, you know, kind of banking and finance can look at it and say that Jamie Dimon doesn't know what he's talking about. On this specific topic, though, I think that there is a little bit of what is being said. And then if you look at the actions of the bank, there's different actions, right? And so, one, when you're in these hearings, obviously you're speaking to a certain audience. And when you're speaking to politicians, when you're speaking in front of the national media, there are expectations of the leadership of large financial organizations or large banks. And I think Jamie was probably addressing some of the questions from that perspective. But the bank has a blockchain team, you know, they have hundreds of people that are working there. They forever have. I've been building out things like stable coins, et cetera.

• 13:05Anthony Pompliano?

  On top of that, I think that there is kind of a tale of two tapes because you also have large financial organizations like BlackRock, where Larry Fink is going on national television and he's saying, look, when people are buying Bitcoin, it's a flight to quality. And so really, I think you got to ask yourself, well, what's the incentive here? And if you were to ask kind of people across Wall Street, who is most likely to lose market share or lose out something? If these assets and these technologies become viable, it's the banks, right? It's not the asset managers. The asset managers are pretty nimble. They're able to say, okay, I can create an ETF for stocks. I can create an ETF for Bitcoin. I just simply switch out the underlying asset as the same ETF wrapper. I can raise private funds and allocate capital. And so I can go ahead and adapt to change much more easily than, let's say, a bank where

• 13:46Anthony Pompliano?

  part of my business model is based on transaction fees or other types of kind of revenue streams that directly compete now with this new technology that appears to be much more advantageous. And so, you know, look, you can put a lot of weight on the words that are said in these hearings or you can put no weight on. I tend to not really pay attention to what any one person is saying in the hearings. I really just go and look at organizations and what are the actions they're taking? And so my guess is that it was well received by the audience he was speaking to. At the same time, you know, there's a lot of people who went to work today at JP Morgan, who work on blockchain technology. And so just understand the difference between those two things is important.

• 14:23Speaker 02

  You appeared on CNBC's Squawk Box recently where you argued that America is going to be a big winner in the crypto and Bitcoin race. But how does that happen without a clear regulatory framework for crypto here in the US?

• 14:37Anthony Pompliano?

  Well, if you ask regulators, they say there is a clear framework, right? They'll tell you, hey, we have securities laws. They've been around for decades and your assets need to fit within the existing securities laws. Now, there's a lot of people within the crypto industry that disagree with that. They want kind of new regulations or kind of modifications to the regulations. And frankly, I don't know what's going to happen, but I do know that in America, we have the judicial system and people are going to go in front of courts of law and they're going to argue. And the regulators are going to argue one thing. Crypto is going to send kind of the best they have and they're going to argue something else. And we've already seen multiple lawsuits and kind of court cases where regulators have prevailed. And then also where regulators have kind of been said, hey, I think you're overstepping here. And so the the American system is going to kind of work it out. And that's kind of the beauty of America.

• 15:20Anthony Pompliano?

  Now, in terms of why America is going to end up being such a beneficiary, I think you can really look at it from three perspectives. You can look at it from the individual investor perspective. You can look at it from an infrastructure perspective. And then you can look at it from what I'll just consider kind of an economic perspective. And so the individual investors, the White House put out a report about two years ago that said 14% of all Americans have either owned or transacted with cryptocurrencies. My guess is the number is probably a little bit higher than that. And so you have people who obviously want this, right? Bitcoin specifically is an asset that is very unique and that it's a bottoms up adoption. Normally, new technologies are adopted, the military creates it, corporations adopt it first, and then individuals get it. Think cell phones or computers or the internet. Bitcoin has been the exact opposite.

• 16:03Anthony Pompliano?

  We have seen individuals adopt it first, then corporations, then financial institutions, and then hopefully at one point, nation states. And so Americans specifically have been a very big beneficiary of that because it's been the best performing asset for the last 15 years. And so if you bought it and held it, you did well. Now, when we think of infrastructure, China at one point had more than 50% of all Bitcoin mining hash rate sitting within their borders. They decided to ban it in May of 2021, and those people unplugged their machines and moved elsewhere. The United States was the big winner in that kind of reallocation of resources. Today, the United States has about 35% of all Bitcoin mining within its borders. The state of Texas is about 10% of global hash rate. And so when you go and you look at, well, what's going on in Texas or in some of these areas?

• 16:48Anthony Pompliano?

  There's been the former president of ERCOT, which is the local power there in Texas. And he says, look, Bitcoin mining is now an essential component to balancing our grid, to updating and modernizing American infrastructure. So when you see that, you're like, okay, not only is America a leader on the global stage in terms of Bitcoin mining, but also we are in effect modernizing our infrastructure and balancing our grids by using this new technology. And so America is winning on that standpoint. And then the third thing is from an economy standpoint, right? If you go and you look, take Coinbase. Coinbase is a $35 billion company, right? There's a lot of people who have been able To go ahead and use that technology and allocate resources towards cryptocurrency through Coinbase. But they've also created thousands of jobs. They've been able to pay a lot of taxes.

• 17:31Anthony Pompliano?

  And that's just one company. And so when you go through the entire industry and you realize how many companies have been created, how many jobs have been created, how much taxes have been paid from these businesses, you realize that one of the greatest areas of economic growth in America is coming from this specific industry. You say, wait a second, if we're going to go ahead and we're going to win on the individual level, we're going to win on an infrastructure level, we're going to win on economic level. This is probably pretty good for us and we should figure out how to embrace it rather than push it away. Because if we push it away, what we'll find is that there is plenty of demand internationally. And so this is not going to go away. What's going to happen is it will just be created and adopted and scaled somewhere else. And we'll just be a loser. So embracing it is much, much better than trying to squeeze it out of the country.

• 18:14Speaker 02

  Now, in a post on X this month, you wrote, "One of the areas that crypto investors seem to always leave as an afterthought is the public equities involved in the crypto market." So what's the argument there for investing in a crypto-focused stock like Coinbase as opposed to investing in the crypto token itself? What do you think will yield higher returns for investors?

• 18:39Anthony Pompliano?

  Well, just think of Warren Buffett, right? If you go and you talk to Warren Buffett, he'll say, hey, I don't buy gold. I buy, you know, maybe gold miners. I don't like the commodities themselves. I like the cash flowing businesses. And so I think it's the same argument. Some people agree with him. Some people vehemently disagree with him. And that's what we're seeing play out here is the crypto equities have kind of quietly outperformed many cases, two times or more, right? You know, if you look at, again, Bitcoin's price being up 150, 160%, but Coinbase is up 330, 340%. If you went back to January 1st, 2023, and you had $1 and you want to allocate it, putting it in Coinbase would have performed better financially than putting it into Bitcoin. Now, the question is, just because it outperforms over one year, is that actually the right allocation, given what's going to happen over a decade or longer?

• 19:24Anthony Pompliano?

  That's an individual choice, right? It's what is your risk profile? What return profile are you looking for? What are all the different dynamics that you're underwriting? And so ultimately, what I think ends up happening is there's kind of the narrative, which is buy Bitcoin and chill, right? And just let the best performing asset of all time compound over a long period of time. It's a finite asset. More capital is going to flow in. The price will go up, given enough time. On the other hand, there's people who say, look, I don't want just kind of the beta exposure to the market, right? I want to be able to have some sort of outperformance. And so they'll use leverage, they'll buy equities, they'll do all sorts of different things. But if you take more risk, you better get a higher return. And so in some weird way, Bitcoin is this free market asset that really is just reteaching financial markets, the lessons that we've

• 20:07Anthony Pompliano?

  learned over decades, and they're doing it with a whole new generation of people. And so just as much as everyone thinks this is different, it's actually much more similar to the past than we realize.

• 20:16Speaker 02

  Do you think some investors would choose to invest in crypto-focused stocks like Coinbase because they're more accustomed to investing in equities versus crypto tokens? It's still a nascent industry. A lot of people don't know a lot about it. So do you think that's a factor there in the investing argument, which one to turn to?

• 20:35Anthony Pompliano?

  I mean, if you even look at, you know, the ETF not being approved, the spot Bitcoin ETF in the United States, there's a lot of people who say, hey, I want exposure to Bitcoin, but I can't go buy Bitcoin itself. And so I would put money into a spot Bitcoin ETF, but that doesn't exist yet. And so instead, I'm going to go buy micro strategy stock because that seems to be kind of an ETF equivalent. I'm going to buy some Coinbase stock because that seems to give me some exposure to the infrastructure of this fast-growing industry. I'm going to buy some Bitcoin mining stocks because that seems to give me also exposure to infrastructure. That's just a lack of ability to allocate directly to the commodity. Now, there's other people, to your point, who just say, look, we just buy stocks, right? We don't buy commodities. We don't go and get the underlying. And so they're looking at that specifically. What is interesting is if you go and you look at

• 21:17Anthony Pompliano?

  a lot of the filings from major hedge funds, they've pretty much sat out this run-up of these crypto equities. So even though Bitcoin is up 150% or so year-to-date, the crypto equities are up two times more than that, the smartest hedge funds on Wall Street have been underweight at best, or completely sitting out what has been hundreds of percent in the entire sector. And so some of that, you know, you ask yourself, why? Is it because they've been so enamored and kind of the attention is turned towards artificial intelligence, Nvidia and other areas like that? Is it because when we saw FTX kind of go down and there was a real Washout and cleansing of the industry, people just got disinterested. Is it because they don't believe in the future?

• 22:00Anthony Pompliano?

  And so they maybe think this is just, you know, some short term price appreciation. There's a whole bunch of different reasons why, but to see how great the performance has been, but to see how underweight the best hedge funds have been. There's a very interesting kind of development there. And if you ask the Bitcoin community, they say, hey, you missed out, but that doesn't mean it's over. Right? There's likely to be more appreciation moving forward.

• 22:20Speaker 02

  In a nutshell, what's your outlook for crypto in 2024? What are you paying attention to?

• 22:25Anthony Pompliano?

  The Bitcoin bull market has begun. I think that we are likely to see a number of catalysts that will draw more capital in, which ends up kind of increasing demand. At the same time, you're going to get the supply shock with the Bitcoin halving in the beginning of Q2 of 2024. And so if we go back, we've seen this playbook before. In 2020, I spent an inordinate amount of time going around television, print, Twitter, podcast, YouTube, any platform I possibly could find and explaining to people. Like we were setting up for what I called rocket fuel for Bitcoin. And that rocket fuel was really the idea that we were basically going to print a bunch of money at the same time that we were cutting rates and the Bitcoin halving was going to happen. And that's exactly what happened. They printed trillions of dollars, they dropped rates to zero.

• 23:09Anthony Pompliano?

  We had a halving and we literally went from $8,000 to $64,000 in under a year. And so when you see that type of appreciation, you say, okay. Well, if we're now setting up for the exact same situation. Now we have pretty high interest rates, given kind of last 10 years or so. It's likely we're going to have to return to loose monetary policy and print trillions of dollars in order to avoid a recession, kind of kickstart and keep the economy strong. And the halving is coming again in the start of Q2. If they're also then going to layer on an ETF approval, it's like we're going to get a demand shock, supply shock, and we're likely to see a very rapid appreciation of price again.

• 23:42Speaker 02

  And it certainly will be interesting to see what happens. Anthony Pompliano, founder of Pomp Investments. Thank you very much for joining us and for that comprehensive insight into crypto markets.

• 23:51Anthony Pompliano?

  Absolutely. Thanks for having me.