2025-04-24 22:42:56
To investors,
Wall Street is under assault from technologists. The bitcoin and crypto industry is coming fast and furious. They are unrelenting and there seems to be a new announcement every day.
For example, a new public company called Twenty One was announced yesterday. It will start with around $4 billion of bitcoin on its balance sheet and is backed by SoftBank, Tether, and Cantor Fitzgerald. Bitcoiner Jack Mallers will serve as CEO and Brandon Lutnick of Cantor was heavily involved in orchestrating the whole thing.
Twenty One aims to be a capital efficient competitor to Strategy, which now owns more than 500,000 bitcoin on its balance sheet. This challenger has no operating business. It is pure exposure to bitcoin with a stated goal of increasing the bitcoin per share. If successful, the new company will prove once again that Wall Street is addicted to volatility, regardless of where it comes from.
The traditional finance industry is not going to stop at bitcoin. Sol Strategies announced yesterday a $500 million credit facility so they can buy more Solana. That SOL will be staked and the staking rewards will be used to pay back the interest on the loan. This is a novel structure that gives lenders unique exposure to the altcoin market.
And think about the size of these announcements. They are hundreds of millions, or billions, of dollars in deals. Wall Street doesn’t play small and crypto has grown up enough for serious players to participate.
I will continue to reiterate an important point — Wall Street is addicted to volatility. Crypto has more volatility than any other industry. And now people in bitcoin and crypto are providing a variety of vehicles and structures for Wall Street to play in this new game.
But the new entrants will not be limited to only traditional Wall Street firms. Coinbase confirmed on national television yesterday that sovereign wealth funds have been buying bitcoin in the last few weeks. This announcement would have been front page headlines a few years ago, but it seemed like no one cared yesterday.
Wild to see how far we have come.
I share all of this because I see too many people talking online about tariffs or other short-term economic events. None of this is going to matter in the long-run. Bitcoin is an idea whose time has come. Ask yourself “will bitcoin care about the Trump presidency 15-20 years from now?” The answer is probably not. Not because of the administration, but more so because bitcoin is apolitical. And I say that as someone who has been pleasantly surprised that the administration followed through with their campaign promise of establishing a strategic bitcoin reserve.
I see bitcoin as a black hole for capital. It continues to suck liquidity into its market cap. Private markets. Public markets. Equity capital. Debt capital. Whatever the market can come up with, bitcoin will be there to receive the capital.
Some buy bitcoin because they want to speculate on future price appreciation, while others store their economic value in bitcoin as they run away from a concerning fiat system that continues to devalue their wealth. Regardless of the reason, the big players are at the table, they are going as big as they can, and bitcoin is just getting warmed up.
It is really hard not to be bullish right now. Hopefully that bullish perspective will start showing in a higher price through the rest of the year.
Have a great day and I’ll talk to everyone tomorrow.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
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Hunter Horsley is the Founder & CEO of Bitwise Asset Management. Matt Hougan is the CIO of Bitwise Asset Management. This conversation was recorded at Bitcoin Investor Week in New York.
In this conversation we talk about bitcoin, what has changed since ETFs have been approved, why is buying the ETFs, Bitwise, private wealth, sovereign wealth funds, and is the 4-year bitcoin cycle over?
Enjoy!
Figure Markets — Trade, borrow, and earn on your crypto with full transparency. The future of finance isn’t TradFi or DeFi—it’s both. Learn more about Figure Markets!
Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.
Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.
Reed Smith - Smart legal solutions for complex disputes, transactions, and regulations. Learn more at www.reedsmith.com.
Bitwise - America’s largest crypto index fund manager and the only Bitcoin ETF issuer that publishes its wallet address plus donates 10% of profits to open source developers. Learn more at BitwisePomp.com
BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.
BitcoinOS - The operating system for bitcoin applications powered by zero-knowledge technology. Check out @BTC_OS on twitter to learn more.
Gemini - The future is being built today. Go Where Dollar’s Won’t. With Gemini.
Xapo - Xapo Bank is the only way to bank with Bitcoin.
Polkadot is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.
2025-04-23 02:04:34
Consensus is Crypto’s Most Influential Event
20,000 of the world’s most ambitious builders and boldest investors are coming to Consensus to make connections and shape the future of the digital economy in Toronto this May 14-16, 2025.
Here’s a glimpse at what’s ahead:
New! Bitcoin & Mining Summit: Discover Bitcoin’s potential with insights on energy, hardware, L2s, ETFs, and more
World-Class Content: Gain and grow with firsthand advice from 400 expert speakers on Web3, Crypto, and AI
Business & Dealmaking: Shake hands and set meetings onsite with high-caliber VCs, institutions, startups, and enterprises
With over ten years of seeing tens of thousands of attendees, Consensus remains your best bet for market-moving intel, meaningful connections, and career-defining deals. You can’t afford to miss it.
To investors,
I sat down with Chris Camillo yesterday to discuss his big investment idea for the next decade. Chris is famous from the Unknown Market Wizards book as one of the best traders you have never heard of. His famous strategy is now coined “social arbitrage” and it is defined as an investment strategy that involves analyzing social media trends and sentiment to identify and capitalize on market inefficiencies.
But Chris is making a much bigger bet these days — humanoid robots.
He believes this is the largest total addressable market opportunity in his lifetime. He sees a future where tens of billions of humanoids are roaming the earth helping humans do a variety of tasks. This technology revolution could add more than $10 trillion to Tesla’s market cap, along with create multi-trillion dollar winners in Figure AI, Apptronik, and others.
This conversation was fascinating. I have been going deep down the humanoid rabbit hole in the last few weeks. It seems to be the largest investment opportunity since bitcoin. I would argue that humanoids will probably be an even bigger market cap than bitcoin.
You can watch my interview with Chris on YouTube or watch the interview on X by clicking here.
I will share more as I learn about the market, the players, and the opportunity. Hope you all have a great day.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
Erik Hirsch is the Co-Chief Executive Officer at Hamilton Lane.
In this conversation we talk about global uncertainty, bitcoin, gold, investing strategies, tokenization, and why they are putting so much effort and time into it.
Enjoy!
Figure Markets — Trade, borrow, and earn on your crypto with full transparency. The future of finance isn’t TradFi or DeFi—it’s both. Learn more about Figure Markets!
Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.
Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.
Reed Smith - Smart legal solutions for complex disputes, transactions, and regulations. Learn more at www.reedsmith.com.
Bitwise - America’s largest crypto index fund manager and the only Bitcoin ETF issuer that publishes its wallet address plus donates 10% of profits to open source developers. Learn more at BitwisePomp.com
BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.
BitcoinOS - The operating system for bitcoin applications powered by zero-knowledge technology. Check out @BTC_OS on twitter to learn more.
Gemini - The future is being built today. Go Where Dollar’s Won’t. With Gemini.
Xapo - Xapo Bank is the only way to bank with Bitcoin.
Polkadot is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.
2025-04-21 20:58:26
To investors,
The last few weeks in financial markets have been a roller coaster. Fear is running wild and investors are worried there is no end in sight to the recent market drawdown. I come bearing good news though.
Fidelity’s Jurrien Timmer writes “Statistically speaking the further the market falls the more likely it is to recover. Yes, some 20% declines become 50% “super bears,” but more often than not the market has historically started to find its footing at -20%, as it appears to have done last week.”
This doesn’t mean the market is done declining, but the historical data suggests the odds are in our favor. That is better than nothing.
Raoul Pal shared the bitcoin price overlaid with M2 global liquidity at the end of last week. You don’t have to be Albert Einstein to realize we are likely close to, or have already seen, the bottom of this drawdown.
If we have already bottomed, the question becomes “how will stocks, gold, and bitcoin perform going forward?” Sam Callahan created an updated chart on various asset’s performance after recent economic events.
As you can see in the chart, bitcoin has almost always outperformed stocks and gold coming out of the major economic events over the last 5 years, including the US-Iran escalation in 2020, the pandemic, Russia invading Ukraine, and the regional banking crisis in 2023. Again, there is no guarantee bitcoin will outperform this time, but the odds are in our favor.
Don’t take my word for it though. Cole Walmsley reminds us that bitcoin remains one of the most attractive financial assets in the world to anyone who can avoid worry in the short-term. Cole writes “This is the most significant chart in financial markets. It's Bitcoin - measured with a 200 week moving average (aka 4 years at a time). Zoom out, and the truth becomes crystal clear: Bitcoin has never lost purchasing power. What does this hint at? Bitcoin is the most reliable savings technology on Earth.”
So what is going to happen in the short-term? I have no idea. It appears the odds are in our favor that financial markets have bottomed and bitcoin will likely outperform other assets coming out of the recovery. But that may not be right. No one can predict the future.
But you can find great comfort in bitcoin’s 200 week moving average — it continues to aggressively appreciate at an attractive rate. As I have discussed many times before, bitcoin is the new benchmark rate for young people. If you can’t beat it, you have to buy it.
I don’t make the rules. And if you think you are smarter than bitcoin, I wish you the best of luck out there.
Hope everyone has a great start to their week. I’ll talk to everyone tomorrow.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
Jordi Visser is a macro investor with over 30 years of Wall Street experience. He also writes a Substack called “VisserLabs” and puts out investing YouTube videos.
In this conversation we discuss what is happening in the market, world reserve currency outlook, how tariffs could impact markets, AI, machine learning, stock market, small businesses, and what a bitcoin future could look like.
Enjoy!
Figure Markets — Trade, borrow, and earn on your crypto with full transparency. The future of finance isn’t TradFi or DeFi—it’s both. Learn more about Figure Markets!
Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.
Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.
Reed Smith - Smart legal solutions for complex disputes, transactions, and regulations. Learn more at www.reedsmith.com.
Bitwise - America’s largest crypto index fund manager and the only Bitcoin ETF issuer that publishes its wallet address plus donates 10% of profits to open source developers. Learn more at BitwisePomp.com
BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.
BitcoinOS - The operating system for bitcoin applications powered by zero-knowledge technology. Check out @BTC_OS on twitter to learn more.
Gemini - The future is being built today. Go Where Dollar’s Won’t. With Gemini.
Xapo - Xapo Bank is the only way to bank with Bitcoin.
Polkadot is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.
2025-04-17 22:50:25
To investors,
The Financial Times reported this morning that Binance, the world’s largest crypto exchange, has been advising numerous countries and sovereign wealth funds on crypto policy and establishing a strategic bitcoin reserve.
It makes sense that countries would reach out to industry players to ensure they have informed views on policy. This happens in every industry and in most countries. But the part of today’s article that caught my attention is that so many nation states are considering a strategic bitcoin reserve.
This is the game theory that bitcoiners have been talking about for decades. Once one large nation starts to acquire bitcoin, all countries are incentivized to compete to acquire bitcoin. This graphic perfectly explains the dilemma countries face now:
A strategic bitcoin reserve was a cute idea when El Salvador or Bhutan were doing it. Those countries could be easily ignored by the mainstream media and larger countries (although I wouldn’t be so fast to discount them!). But it is not possible to ignore the United States of America — the greatest economy ever constructed in human history.
If America says bitcoin is strategically important, then other countries will start seeing the asset that way as well. And it sounds like the Financial Times is reporting this theory is being supported by action right now across the globe.
This week we also saw another interesting development out of Panama City. Mayer Mizrachi Matalon shared with me that the “Panama City council has just voted in favor of becoming the first public institution of government to accept payments in Crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT.”
This is noteworthy because we are watching countries embrace bitcoin and cryptocurrencies in a multitude of ways — some are buying and holding, some are allowing crypto payments, some are mining, and others are probably doing things that they haven’t revealed yet.
While it may be tempting for bitcoiners to yell “I told you so!,” I think it is much more important that we collectively keep our foot on the gas. There is more educating that needs to be done. There is more progress that needs to be made. Stay focused on the inputs to the process. The price will take care of itself.
Hope you all have a great day. I will talk to everyone tomorrow.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
David McIntosh is the President of “The Club For Growth” and the Co-Founder of The Federalist Society.
In this conversation we talk about bitcoin, stablecoins, what is going on inside the US government, taxes DOGE, tariffs, and much more.
Enjoy!
Figure Markets — Trade, borrow, and earn on your crypto with full transparency.. The future of finance isn’t TradFi or DeFi—it’s both. Learn more about Figure Markets or click here to claim your $50!
Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.
Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.
Reed Smith - Smart legal solutions for complex disputes, transactions, and regulations. Learn more at www.reedsmith.com.
Bitwise - America’s largest crypto index fund manager and the only Bitcoin ETF issuer that publishes its wallet address plus donates 10% of profits to open source developers. Learn more at BitwisePomp.com
BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.
BitcoinOS - The operating system for bitcoin applications powered by zero-knowledge technology. Check out @BTC_OS on twitter to learn more.
Gemini - The future is being built today. Go Where Dollar’s Won’t. With Gemini.
Xapo - Xapo Bank is the only way to bank with Bitcoin.
Polkadot is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.
2025-04-16 22:01:58
To investors,
There are more than 37 million crypto tokens in existence today. That number blew my mind when I saw it recently. Most of these tokens are obviously inactive or not viable, but the fact that so many tokens have been created over the last 15 years tells a broader story — there is intense competition for attention and capital in the crypto industry.
This increasing competition makes it even more impressive that bitcoin, the first cryptocurrency asset created, has continued to be the largest and most liquid asset in the market. Bitcoin Magazine pointed out this morning that bitcoin’s market cap dominance recently hit a new 4-year high.
Pretty incredible, right? The story is even crazier when you look at bitcoin compared to Ethereum, the second largest cryptocurrency. Benjamin Cowen shows the bitcoin/ethereum pair has been down only for years.
Parker Lewis points out that ethereum is down 61% against bitcoin in the last year.
There are many theories as to why bitcoin continues to hold this dominance. One argument is a tech argument — bitcoin has perfect product-market fit, which is very hard to reverse once the right product has momentum. Another argument is a financial one — things in motion tend to stay in motion. Some will argue from a psychology perspective — bitcoin’s brand is the most well-known, which means that mindshare turns into capital flows.
But my favorite argument, mainly because I think it is the most true, comes from a common sense perspective. Fred Kruger tweeted this morning a great articulation of this idea:
“The rich need a place to store their wealth. In the 80s that was US Bonds. In the 90s, it was US Stocks. In the 00s, it was US and London Real Estate. In the 2010s, it was US Tech Stocks. Since 2020, Bitcoin has massively outperformed.
And now we have trade wars. Bad for stocks. Bad for real estate. Bad for bonds. Good for gold. and ultimately great for Bitcoin.”
Bitcoin is dominant because it provides the right solution to one of the biggest problems in modern society. Governments continue to debase their currencies, so the people run and hide in sound money assets. The 37 million other crypto assets have different focuses, but none of them are as big of an idea as bitcoin.
I don’t see bitcoin’s dominance disappearing. It may fluctuate from year-to-year, but ultimately — bitcoin is the idea whose time has come. I can’t believe we are so fortunate to be able to live through this historic development in human history.
Hope you all have a great day. I’ll talk to everyone tomorrow.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
Polina Pompliano, Author of ‘Hidden Genius’ and Founder of The Profile, and Anthony Pompliano, Author of ‘How To Live An Extraordinary Life’ and CEO of Professional Capital Management, discuss bitcoin, crypto, gold, tariffs, Anthony recaps his trip to the White House, and he explains why he thinks bitcoin will skyrocket past gold.
Enjoy!
Figure Markets — Trade, borrow, and earn on your crypto with full transparency.. The future of finance isn’t TradFi or DeFi—it’s both. Learn more about Figure Markets or click here to claim your $50!
Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.
Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.
Reed Smith - Smart legal solutions for complex disputes, transactions, and regulations. Learn more at www.reedsmith.com.
Bitwise - America’s largest crypto index fund manager and the only Bitcoin ETF issuer that publishes its wallet address plus donates 10% of profits to open source developers. Learn more at BitwisePomp.com
BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.
BitcoinOS - The operating system for bitcoin applications powered by zero-knowledge technology. Check out @BTC_OS on twitter to learn more.
Gemini - The future is being built today. Go Where Dollar’s Won’t. With Gemini.
Xapo - Xapo Bank is the only way to bank with Bitcoin.
Polkadot is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.
2025-04-15 20:20:35
To investors,
I went to the White House last week to interview Bo Hines, the Executive Director of the Presidential Council of Advisors on Digital Assets. He is responsible for shaping our national policy on bitcoin, stablecoins, and crypto assets.
You can watch the full episode by clicking here.
Here are some of my personal takeaways from my conversation with Bo:
Crypto has become a bi-partisan effort. There are Republicans and Democrats who understand the importance of the technology and see the industry as politically important.
People from every major government agency are involved in shaping our national crypto policy. The industry touches everything from economics to geopolitics and energy to law enforcement. We are better off having a well-rounded perspective in the room.
The administration understands that bitcoin is unique. They see the digital currency as digital gold and believe it is strategically important for the United States. There is a large appetite within leadership to acquire as much bitcoin as possible. I now believe a good framework to use is “what would happen if bitcoiners infiltrated the White House?” because that is what seems to have happened.
Stablecoins are a big focus at the moment. The administration understands these digital dollars are driving greater global adoption of US dollars, which is ultimately good for the US in the long-run.
Bo Hines and the administration see bitcoin and a strong dollar co-existing in the future. They believe bitcoin is good for the dollar and a strong dollar is good for bitcoin.
Large players, whether we are talking big financial institutions or foreign governments, are all interested in figuring out their strategy for crypto. The White House is fielding calls from all of these groups.
Recent changes at various regulatory organizations should signal a tailwind for the crypto industry. The SEC, CFTC, OCC and other regulators are changing their tune, which can be seen in the personnel changes and some early rule changes.
The administration knows they have to rebuild trust with the industry and with the American people. This is difficult to measure, but they want to work with industry players rather than work against them.
We should expect to see Wall Street and legacy financial firms embrace blockchain technology in various ways, including tokenization.
There is a persistent optimism in the administration about technology in general. Bitcoin and crypto are a key part of their strategy.
Overall, not only was I impressed by Bo Hines, but I also found the administration’s approach refreshing. I did not expect to hear comments like “bitcoin is unique” and “we want to acquire as much as we can.”
With that said, talk is cheap. The administration followed through on an important campaign promise of the Strategic Bitcoin Reserve, but it would be disappointing if they stopped there. The tens of millions of Americans who own these assets are looking for a material improvement in the United States’ position.
Hopefully that is exactly what we will get. Have a great day and I’ll talk to everyone tomorrow.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
Bo Hines is the Executive Director of the Presidential Council of Advisers on Digital Assets. This conversation was recorded at the White House.
In this conversation we talk about the US bitcoin strategic reserve, stablecoins, regulation, how decisions are being made, gold, tariffs, law enforcement side, motivational aspect inside Trump admin, biggest surprises so far, and what Bo is looking forward to.
Enjoy!
Figure Markets — Trade, borrow, and earn on your crypto with full transparency.. The future of finance isn’t TradFi or DeFi—it’s both. Learn more about Figure Markets or click here to claim your $50!
Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.
Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.
Reed Smith - Smart legal solutions for complex disputes, transactions, and regulations. Learn more at www.reedsmith.com.
Bitwise - America’s largest crypto index fund manager and the only Bitcoin ETF issuer that publishes its wallet address plus donates 10% of profits to open source developers. Learn more at BitwisePomp.com
BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.
BitcoinOS - The operating system for bitcoin applications powered by zero-knowledge technology. Check out @BTC_OS on twitter to learn more.
Gemini - The future is being built today. Go Where Dollar’s Won’t. With Gemini.
Xapo - Xapo Bank is the only way to bank with Bitcoin.
Polkadot is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.