- itcoin Bull Anthony Pompliano forecasts a Bitcoin price of $225,000 by the end of 2021.
- Other analysts state that Bitcoin’s fundamentals are currently strong and a price increase is likely.
The Bitcoin price has risen again to its initial level of just over $11,400 after the short-term setback following the announcement that OKEx is being investigated by Chinese authorities. At the time of writing, Bitcoin stands at $11,441 and has increased by 0.45% in the last 24 hours. The market capitalization has increased from $208 billion to $211 billion.
Co-founder of Morgan Creek Digital Assets, Anthony Pompliano, is bullish for Bitcoin and revealed in his recent “Investor Letter” that he believes BTC could rise to $225,000 by the end of 2021. With the FED’s current monetary policy of 0% interest rates and a constant flood of new fiat money, Bitcoin and gold have benefited greatly in recent months:
The combination of the Fed’s asset price manipulation and inflation fears has driven gold and Bitcoin to drastically outperform equities and other commodities.
According to Pompliano, the current signs are clear: more and more companies like Square or MicroStrategy have started to hold Bitcoin as a reserve currency in times of advancing inflation as an alternative asset in their own portfolio for the long term.