Professional Capital Management founder and CEO Anthony Pompliano is calling Bitcoin (BTC) the “greatest show on Wall Street.” In a recent interview with CNBC’s Squawk Box, he shared three reasons why BTC is about to steal the spotlight and lead the crypto markets to new heights. 🌟
“First of all, welcome to The Greatest Show on Wall Street. I think Wall Street’s full, undivided attention is now on Bitcoin. And really, there are three things that drove this move.
The first is that there have been record inflows into the ETFs (exchange-traded funds). Last Thursday alone saw $1.2 billion—the second-highest day ever. Those ETFs now collectively have over $140 billion. BlackRock’s fund alone is now almost $90 billion. In about a year, they went from not having a Bitcoin ETF to having one of the top 20 largest ETFs in the world. So there’s a lot of inflows there. 🚀
The second thing is that the options expired at the end of Q2. So all that downward pressure on Bitcoin went away. That helps—kind of like a beach ball being pushed underwater. Obviously, it can pop back up. 🏊♂️
And then the third thing is that there were a lot of short sellers. You started to see that build up, and as they got blown out as Bitcoin ran, you entered this price discovery phase. If you go back to November, we went from $70,000 to $90,000 in about two to three weeks. And $70,000 was a new all-time high.”
While not giving explicit price targets, Pompliano says that BTC is in for a “big move” now that it’s broken the previous all-time high of $110,000. So, buckle up, folks, it’s going to be a wild ride! 🎢
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2025-07-14 23:01