Bitcoin holders are being tested as inflation eases: Pompliano
Bitcoin will become “more valuable than ever” after deflation stops covering “up the impact” on the US dollar, according to Bitcoin entrepreneur Anthony Pompliano.
Bitcoin investors are being forced to rethink why they hold the asset as inflation data cools, according to Bitcoin entrepreneur Anthony Pompliano.
“I think the challenge for Bitcoin investors, can you hold an asset when there is not high inflation in your face on a day-to-day basis?” Pompliano said during an interview with Fox Business on Thursday. “Can you still believe in what Bitcoin’s value proposition is, which is that it’s a finite-supply asset. If they print money, Bitcoin is going higher,” he said.
“Bitcoin and gold are great long-term things,” he said. The US Consumer Price Index (CPI), a widely used measure of inflation, fell to 2.4% in January from 2.7% in December, according to the US Bureau of Labor Statistics. However, Mark Zandi, Moody’s chief economist, recently told CNBC that inflation “looks better on paper than in reality.”