Pompliano Bitcoin to safeguard the wealth generated by AI

Venture capitalist Anthony Pompliano, a Bitcoin enthusiast, predicts that Bitcoin (BTC) will emerge as the top asset for safeguarding wealth generated from artificial intelligence (AI) in the next decade.
In an interview with CNBC on June 24, Pomp Investments founder Pompliano explained that the increasing influence of AI is expected to create substantial wealth, and Bitcoin will play a crucial role in protecting that wealth. He dismissed the notion that AI would replace Bitcoin and the broader cryptocurrency industry, emphasizing that both technologies will complement each other over the next ten years.
Pompliano believes that the productivity gains from AI could lead to a potential increase in GDP, with Bitcoin serving as a safeguard for preserving the generated wealth. He emphasized the long-term perspective, stating that individuals focusing on short-term fluctuations are overlooking the significant tailwind that will shape the next decade.
On June 23, Bitcoin experienced a significant drop, hitting a seven-week low of $59,086. This negative sentiment can be attributed to reports of Mt. Gox’s plans to sell $8.5 billion worth of Bitcoin to creditors, as well as significant outflows from spot Bitcoin exchange-traded funds, exceeding $1 billion over a ten-day trading period. Additionally, there has been a substantial selloff from Bitcoin miners.
Consequently, the Crypto Fear & Greed Index indicates that Bitcoin and cryptocurrency market sentiment has shifted to the “Neutral” zone, with a score of 51 out of 100. This is a notable change from the “Greed” zone it was in last week, with a score of 71 out of 100.
Despite the recent 15% price decline, Pompliano remains unfazed, pointing out that bull markets typically experience significant price pullbacks of 30% or more. He also highlighted the historical pattern of sideways trading in the second and third quarters, especially during halving years. Pompliano anticipates another price rally in the last quarter or the beginning of 2025, following the historical trend observed in halving years.