Podcasts Technology Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News 403: BITCOIN COULD SOAR TO $100K BY END OF 2021 AS DEMAND RAPIDLY EXCEEDS SUPPLY SAYS ANTHONY POMPLIANO!

403: BITCOIN COULD SOAR TO $100K BY END OF 2021 AS DEMAND RAPIDLY EXCEEDS SUPPLY SAYS ANTHONY POMPLIANO!

Published: Nov. 26, 2020, 2:56 p.m.

Bitcoin could surge to $100,000 by the end of 2021, according to the crypto investor Anthony Pompliano.

BTC traded as high as $19,389 on Wednesday and is nearing its all-time high, reached in 2017.

Pomp, a cofounder of Morgan Creek Digital, told CNBC on Wednesday that demand for Bitcoin was rapidly outpacing supply, especially after its "halving" in May, when the number of Bitcoins awarded to miners was cut in half.

This occurs roughly every four years and serves to limit the supply of BTC coming into the market. Bitcoin is "the winner of a supply-and-demand exercise," Pompliano said.

Pomp added that the macroeconomic environment right now was "rocket fuel" for Bitcoin.

Low interest rates, money printing, and the Federal Reserve's average inflation target of 2% have driven retail and institutional investors into BTC, he said.

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