Bitcoin FOMO Has Hit Wall Street!

Anthony Pompliano joins Squawk Box to talk bitcoin ETF, Wall Street, bitcoin halving, macro environment, and more.

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Welcome back to squa boox the price of Bitcoin Crossing back over the $48,000 level over the weekend one month this after the launch of the spot Bitcoin ETF this morning trading slightly lower join us right now it’s Anthony Pomano founder of pomp Investments good morning to you

Morning uh this has been a bit of a wild ride because we talked about sort of selling the news or selling the rumor buying or buying the buying the rumors selling the news but now we’ve come back to buying yeah I mean look the verdict is in right uh Wall Street doesn’t just

Like Bitcoin they love Bitcoin if you think of these assets uh there’s been over 5500 ETF launches in history never have we had a fund get to $3 billion in AUM in the first 30 days Black Rock and Fidelity both just did it so two for the

First time in history and then if you look at bitwise and 21 shares uh Arc they’re both going to hit a billion dollars this year or this week and so now you have four funds they going to hit a billion dollars of inflows but the most interesting part of this is the

Inflows doing these funds are doing $500 million a day of net inflows but there’s only 900 Bitcoin that is actually coming into the daily incoming Supply and so when you look at that that’s like4 to $45 million there’s 12 and a half X more demand for Bitcoin than what’s being

Produced on a daily basis how much of this you think is being generated by the ETFs themselves well I mean you just measure the actual net inflows right and so you can just see there is way more buying pressure you’re saying three billion for Black Rock there’s 4 billion

Now for Black Rock three and a half for Fidelity and then you’ve got uh bitwise and 21 shares will both hit about a billion uh this upcoming week total valuation though of Bitcoin if on market cap is a trillion so this isn’t this a dominous issue or no now here’s the

Where it gets really interesting you most of these things aren’t trading 80% right of all Bitcoin in circulation has not moved in the last six months you got have only about $200 billion that’s actually tradable and so that means that these ETFs sucked up 5% of the entire

Tradable supply of Bitcoin in 30 days I mean bit Bitcoin is become wall Street’s favorite asset what are you GNA say Joe I can tell you I’m not gonna say I 5% doesn’t sound like a lot I I here’s what what I’m 30 days it used to take a lot for someone

To invest in Bitcoin it’s real easy right now and I just I don’t know are we going to 990,000 in a year that be two we people don’t double their money by buying an ETF in a year so I think that now I think it might be a currency that

You can use because it’s going to stay at 47,000 well look the the world is changing for sure I mean last year the NASDAQ was up 50% right and so there’s definitely these big moves that happen in the traditional markets Bitcoin obviously is that on steroids but the

Other thing that’s now starting to happen Fidelity just came out they’ve got a fund it’s an all-in-one fund out in Canada and they’re going to put one to three% of that fund into the Bitcoin ETF and so what you’re going to start seeing is not just direct inflows into

The Bitcoin ETFs you’re going to start seeing them putting Bitcoin into all of their funds because it from a risk reward standpoint drastically improves the performance of these portfolios and they’re going to start to realize if I’m lagging indicator if I’m lagging performance if I put a little bit of

Bitcoin 1 to 3% into this portfolio it’s going to enhance bcoin I think it might be good if it stay at 47,000 for a year because then it would people wouldn’t worry about buying a pizza and it’s worth a Mercedes two years from now the uh the the joke in the Bitcoin Community

Is the real bitcoiners want the price to stay low so they can accumulate more of it right but obviously when you have this much go a year from now it’s where it’s oh it’s much higher I think that if this continues if we have 12 and a half

Times more then we do incoming daily Supply and remember the having is coming so we’re going to go from 900 Bitcoin to 450 Bitcoin a day I mean this thing’s going back to his all-time high it’s pretty much guaranteed at this what’s that other thing called Becky whenever

Talk about the having you know where we all go up to heaven and something the U the someone’s Left Behind The Rapture the Rapture having is like the Rapture that you do you really hardcore let me ask this you’re you’re a bull you’re an owner what’s the thing you worry about

About being wrong about yeah I I think the biggest thing is it’s not so much right or wrong as as much as it is like the return of this asset is going to dampen over time just as it gets larger and as the holder base changes one of

The things that hasn’t happened in the Bitcoin Community previously is things like rebalancing and so when you all of a sudden give financial advisers an asset and let’s say you have a 1% allocation and it goes to 5% you’re going to sell you’re going to rebounce that portfolio and so when the holder

Base is changing you have to understand that the return profile will come down and so if you think that you’re going to buy Bitcoin and it’s going to you know help you retire those days probably are behind uh but what it will do is stock

But then you’re not in the camp of uh of the Cathy Woods $500,000 million base case Bitcoin valuation issue because by the way if if that’s true then you then you can retire yeah I I mean look again it depends on the timeline right so if you’re saying it’s going to go from

50,000 to 500,000 which is 10x and that’s going to happen over the next 10 years I think she thinks that that’s what’s going to happen that’s not that crazy right again NASDAQ was up 50% last year I’m not saying nasdaq’s going to go up 50% every year but we live in a world

Where it has completely lost all ties to reality because we are printing an enormous amount of money the interest payment on the debt is a trillion dollars right it was a video game number and so in that world how much are these assets worth when the denominator is

Just being debased away they’re going to be worth a lot more you can just start putting zeros on the end of the values of these assets Anthony Pompano P thank you sir absolutely thank you guys appreciate it