Professional Capital Management founder and CEO Anthony Pompliano stressed the importance of Donald Trump’s creation of a national Bitcoin (BTC) reserve. The entrepreneur also shared his thoughts on the choice of the next SEC chairman, who may be more significant for altcoins than Bitcoin.
The global race for Bitcoin – Pompliano is underway
In recent interview with Yahoo FinanceAnthony Pompliano commented on the cryptocurrency market’s unplanned reaction to Trump’s election victory.
According to Pompliano, investors believe in the Republican president-elect and are very confident in his willingness to implement all of his cryptocurrency manifestos. He explains that this belief is supported by recent price increases as investors take positions and allocate resources to enjoy the benefits of Donald Trump’s promised cryptocurrency-friendly administration.
Anthony Pompliano states that it is extremely significant for the future US president to keep his words, especially regarding the national Bitcoin reserve. As such, he emphasizes that it is significant for the United States not only to retain its current Bitcoin tokens, but also to actively acquire more cryptocurrencies.
According to Pompliano, such a purchasing strategy is needed because there is currently a global race for Bitcoin, which is proving to be a powerful hedge against inflation. Therefore, US local, state and federal governments must strive to get involved and acquire as much Bitcoin as possible.
Like Bhutan with a $1 billion BTC portfolio, Pompliano is urging Trump to follow suit, but on a larger scale of $100 billion BTC, which he says is diminutive compared to U.S. domestic spending.
Pompliano: no preferred candidate for the fresh SEC chairman
Commenting on Donald Trump’s nominations, Anthony Pompliano stated that there is no favorite candidate for the chairman of the US Securities and Exchange Commission (SEC).
As Gary Gensler’s tense regime quickly comes to an end, the head of Professional Capital Management states that a fresh SEC chairman must be “intelligent, thoughtful and pro-crypto.”
Interestingly, Pompliano also agrees with the interviewer’s sentiments that this fresh appointment and subsequent SEC policy will have greater regulatory implications for altcoins than for Bitcoin. He explains that Bitcoin, being the king of the cryptocurrency market, has already gained sufficient regulatory transparency, just like Ethereum. Therefore, altcoins, especially those with ETF applications such as Solana, will certainly benefit from any improved regulatory regime.
As of this writing, there is no known successor to Gary Gensler, and multiple candidates are reportedly being considered. Those candidates include Wall Street lawyer Richard Farley, Robinhood chief legal officer Dan Gallagher, former SEC commissioner Chris Giancarlo and former SEC general counsel Robert Stebbins.
Featured image from IQ.wiki, chart from Tradingview
