 'There is a global race underway for Bitcoin' — Anthony Pompliano 
2024-11-16

Asset manager and investor Anthony Pompliano recently stated that the global Bitcoin BTCUSD arms race between sovereign nations and governments has already started.
In an appearance on Yahoo Finance, Pompliano argued that market participants believe President-elect Trump will keep his campaign promises and establish a Bitcoin strategic reserve, and that doing so would be in the best interest of the United States to prevent being "Front-run by other countries." Pompliano asserted:
The pro-Bitcoin asset manager explained that the race to adopt Bitcoin is primarily driven by currency devaluation and noted that US residents lost approximately 25% of their purchasing power over the last five years.
The race is on domestically and internationally
During the interview, Pompliano noted that Bhutan and El Salvador are accumulating Bitcoin and have the advantage of being smaller players that lack the same downside risks as global powers like the United States. However, despite the added risk of being a global economic hegemon, the downside risk to the United States investing in Bitcoin remains relatively low. Pompliano argued:
The same pattern of adopting Bitcoin as a strategic reserve asset is also playing out domestically. Jimmy Patronis, Florida's chief financial officer, is pushing for the state pension fund to allocate some of its portfolio to Bitcoin.
More recently, in November 2024, Pennsylvania lawmakers introduced a Bitcoin strategic reserve bill. If passed, the bill would allow the Pennsylvania State Treasury to maintain 10% of its assets in the supply-capped digital currency.