6 days ago
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Founder and CEO of Professional Capital Management Anthony Pompliano has emphasized the importance of Donald Trump setting up a national Bitcoin (BTC) reserve. The entrepreneur has also shared some thoughts on the selection of the next SEC chairman which may hold more weight for altcoins than Bitcoin.
There’s A Global Race Underway For Bitcoin – Pompliano
In a recent interview with Yahoo Finance, Anthony Pompliano commented on the crypto market’s buoyant reaction to Trump’s electoral victory.
According to Pompliano, investors believe the Republican President-elect and are highly confident in his willingness to implement all crypto-related manifestos. He explains that this belief is backed by recent price surges as investors are getting into positions and allocating resources to enjoy the benefits of Donald Trump’s promised crypto-friendly administration.
Anthony Pompliano states it is vital the incoming US President sticks to his words, especially in regard to the national Bitcoin reserve. In this regard, he highlights that it is not only important the US retains its current Bitcoin tokens, but also actively acquires more of the crypto.
According to Pompliano, this buying strategy is needed as there is a global race for Bitcoin at the moment, which is proving to be a strong hedge against inflation. Therefore, the US local, state, and federal governments must aim to get involved and acquire as many Bitcoins as possible.
Just like Bhutan with a $1 billion BTC sheet, Pompliano is urging Trump to follow suit but on a larger scale of $100 billion BTC which he claims is small compared to the US national spending.
Pompliano: No Preferred Candidate For New SEC Chair
When commenting on Donald Trump’s appointments, Anthony Pompliano has stated he has no favorite candidate to be chairman of the US Securities and Exchange Commission (SEC).
With Gary Gensler’s hectic regime approaching a fast end, the boss at Professional Capital Management states the new SEC Chair must be “smart, prudent and pro-crypto”.
Interestingly, Pompliano also aligns with the interviewer’s sentiments that this new appointment and the SEC’s policy moving forward will hold more regulatory implications for altcoins than Bitcoin. He explains that Bitcoin, while being the king of the crypto market, has already gained enough regulatory clarity, same with Ethereum. Therefore, altcoins especially those with ETF applications such as Solana are set to gain from any improved regulatory system.
At the time of writing, Gary Gensler’s replacement remains unknown with multiple candidates reportedly in consideration. These candidates include Wall Street lawyer Richard Farley, Robinhood Chief Legal Officer Dan Gallagher, former SEC Commissioner Chris Giancarlo, and former SEC General Counsel Robert Stebbins among others.
Featured image from IQ.wiki, chart from Tradingview
