Bitcoin has every possibility to grow its market size by 15-20 times within the next 15 months, according to Anthony Pompliano of New York-based hedge fund Morgan Creek Digital.
The founder said in a note to investors that they should put 1-10 percent of their investable capital into Bitcoin. Recalling his own portfolio’s 50 percent exposure in the cryptocurrency, Mr. Pompliano cited a string of upside catalysts that would benefit anyone who invests-in/holds the 11-year old financial asset.
Bitcoin and Dovish Outlooks
The first optimistic fundamental in line was the Federal Reserve and its unprecedented monetary policies. The US central bank in April cut its interest rate to near-zero to boost lending amid the coronavirus pandemic. In its recent remarks, the Fed vowed to keep the rates lower for the foreseeable future.
More tailwinds Bitcoin’s bullish bias came from the US government’s $3 trillion stimulus package. Because of it, the Fed’s balance sheet expanded by 75 percent since the