Pomp Gives Conservative $1 Million Bitcoin Price Prediction
Anthony Pompliano ‘Pomp’ has given his bullish long-term Bitcoin price prediction, saying we will see a $1 million BTC price tag, at some stage during his life.
Pomp was speaking in an interview on Stansberry Research channel, and the influential podcaster wouldn’t be drawn into a specific time for his $1 million prediction, but said he was absolutely confident we would see it in his lifetime.
‘When we look out over a very, very long time horizon,’ explained Pomp. ‘So if you give me the benefit of the doubt and say, ‘Hey don’t put a time prediction on it just tell me where the value of this thing goes,’ I absolutely think at some point in my lifetime we’ll see a $1 million Bitcoin price.’
However, with Pomp in his early thirties, the time horizon for his price prediction gives him a wide stage to dance on. And with the way fiat money is being devalued, $1 million dollars even when Pomp is 50 won’t have anywhere near the purchasing power it has today.
‘I don’t know if [Bitcoin reaching $1 million] necessarily has more to do with Bitcoin value accrual as much as the devaluation of the dollar over a long period of time – everything goes up in dollar prices from real estate, stocks, precious metals etcetera,’ explained Pomp.
Why So “Conservative” Pomp?
Pomp is well known for being bullish on Bitcoin, and a million dollar price prediction can’t exactly be earmarked as a bearish price prediction, so why is Pomp being “conservative”?
The Morgan Creek Digital co-founder admitted his $1 million price prediction was favourable given the timeframe, saying a fair prediction needed a set time.
Pomp did give a Bitcoin price prediction with a shorter timeframe back in 2019. Back then he said the Bitcoin price would be $100,000 by the end of 2021, when Bitcoin was hovering below $10,000.
Pomp was prompted on this prediction and asked if he was revising it given Bitcoin’s meteoric rise since March 2020.
However, the Pomp Podcast host maintained his “modest” price prediction of $100,000 a Bitcoin even if he concedes he’s ‘now the most conservative guy in the room.’
‘In order to have a true prediction, you have to predict price and also timeline… In 2019, I wrote a piece that said I believe that Bitcoin was going to go from around $10,000 at that time to $100,000 by the end of 2021… I still believe that. I haven’t changed it.’
‘Somehow I’m now the most conservative guy in the room because now there’s people saying $200,000, $250,000, $300,000, $500,000,’ said Pomp. ‘Whatever the numbers are, I’m still gonna stick with $100,000.’
Other Notable $1 Million Bitcoin Price Predictions
Pomp isn’t the first to predict Bitcoin will reach $1 million, but given his timeframe, he is arguably the most conservative.
The most famous Bitcoin to USD $1 million price prediction was John McAfee’s. The Anti-Virus mogul made his $1 million price prediction back in 2017, saying Bitcoin would reach the landmark price by the end of 2020.
McAfee even offered to eat his own dick on national television if Bitcoin didn’t reach his prediction.
As we know, Bitcoin didn’t reach $1 million and there’s no news of John McAfee making any guest appearances on national television.
However, it’s thought that McAfee is now in prison in Spain, so maybe he and his cellmate are feasting together on his promise. Who knows? Just the two of them…
The well-known macro strategist explained his reasoning for his bullish prediction, saying he knew ‘an enormous wall of money coming into [the Bitcoin market.’
Pal, who draws his conclusion from the ‘massive economic stimulus’ that is coming, and PlanB’s Stock-to-Flow (S2FX) model. The GMI CEO explained how the cycle was playing out as expected and institutional adoption was driving the price up
‘Technically the set up’s right [for Bitcoin],’ explained Pal. ‘Obviously we’ve had the halving, the adoption phase: What’s happening with the institutions. It’s like the perfect time.’
When Bitcoin To $1 Million?
There has been many Bitcoin price predictions ranging from $0 to tens of millions, and given a liberal timeframe, we could easily see Bitcoin reach seven, eight or even nine figures.
Pomp isn’t known for being conservative and is one of the most bullish people on Bitcoin. The Morgan Creek Digital founder’s $100,000 price prediction seems conservative to some, but a X2.5 from here in 11 months is still an excellent ROI.
His Bitcoin to USD $1 Million in the next 50 years or so is extremely conservative, however, and it can be assumed Pomp simply doesn’t want to affect his public persona by being blatantly open.
Either way, Bitcoin will reach $1 million in his lifetime, thankfully he hasn’t offered to eat his dick on national television if it doesn’t.
Author: Tommy Limpitlaw
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A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.