Morgan Creek co-founder, Anthony Pompliano, who often makes bullish remarks on bitcoin and the crypto market, has tweeted that bitcoin has a “realistic chance of a 20-50x increase over a 5 year period”,
Bitcoin is the only $95 billion market cap asset I have ever seen that has a realistic chance of a 20-50x increase in value over a 5 year period.
Sometimes the best trade is the simplest.
— Pomp 🌪 (@APompliano) April 22, 2019
The new statement from Pompliano is consistent with what he has said previously, and is just another iteration of his staunch belief that crypto prices and use is going to skyrocket in the near future, though he has tempered his optimism with reservation in the past. Morgan Creek CEO Mark Yusko has also said that bitcoin’s value could be 20x in the next 10 years.
“Pomp”, as he is affectionately known, believes that the crypto industry is booming, and that the “most used product in crypto” will be built by a company like Facebook.
Pomp Betting Big on Crypto
Pompliano has stated before that the crypto market will outperform the S&P 500 in the medium and long-term future, which it actually has done since the arrival of the market.
The prominent bitcoin proponent has also opposed Warren Buffett’s opinion that the bitcoin and cryptocurrencies have no real use, and placed a “Buffett Bet 2.0”, a reference to a bet that Buffett made about the S&P 500 – just this time, Pompliano is placing his bet on Morgan Creek’s $1 million crypto index outperforming the S&P 500 over the next 10 years.