To investors,

Bitcoin hit a new all-time high of more than $82,300 this morning. This means the digital currency is up over 18% in the last 7 days. The market seems to like that a pro-bitcoin President was elected.

The latest all-time high is going to be particularly important for the trajectory bitcoin will travel in the next 12 months. I believe crossing $80,000 — which is a nice, big round number — will catch the eye of many investors and capital allocators.

Bitcoin is now in a price range that has never been covered before. The charts look incredibly good too. Mark Ungewitter called it the “best chart on planet” yesterday.

More importantly, the cross of $80,000 signals the first time in years that bitcoin has hit a new all-time in inflation-adjusted terms. Daniel Sempere Pico highlights the previous all-time high of more than $69,000 is actually equivalent to over $80,000 in today’s dollars. This weekend’s price appreciation put us over the new inflation-adjusted threshold.

Institutional investors are going to be very interested in understanding bitcoin, and potentially allocating to it, when the media is talking about it non-stop all week. If you don’t think that is going to happen, then you are new around here. You will eventually learn.

Retail is leading the charge on word-of-mouth. You can see Google Search queries starting to rise compared to the last 12 months.

We still aren’t to the levels we saw for the new all-time high post-ETF approval in March, but we are getting close. I would expect Google Search trends to eclipse March levels by the end of the year.

Speaking of history, we should pay very close attention to what happened four years ago. 2020 was the last halving year. We saw bitcoin’s price go from approximately $15,000 in early November to over $60,000 in March of 2021.

That is more than 400% price appreciation in 5 months. Not many assets can do that.

I am not predicting a repeat of the 400% gain in such a short time period, but I do think history is going to rhyme in the coming months. I wrote to you all on October 28th this year and said “don’t get lulled to sleep by sideways summer. We should be coming out of hibernation soon and decision-makers become much more interested after prices have increased.”

It is safe to say we are out of hibernation now.

It would not surprise me to see bitcoin catch a very strong bid through the end of the year. Price is reflexive. Everyone on Wall Street copies each other. Financial advisors are starting to put on 1% positions for all clients unless the opt out. Here is an example message that someone posted online:

Additionally, there are rumors from some of the most knowledgable Bitcoiners that we will see very large nation state purchases revealed in the coming months. Bitcoin Magazine CEO David Bailey claims a nation state has become a top 5 holder of bitcoin recently but no one is aware they purchased the bitcoin.

That would be a fairly important announcement. I will leave the speculation of who it is to all of you.

So what does all this data and information tell us — bitcoin is going much higher between now and the end of 2025. I don’t know what the exact price or timing will be, but it is hard to find a compelling argument to be bearish or reserved right now.

The world is realizing the importance of a decentralized, digital currency that continues to produce block-after-block of transactions regardless of what happens in the world. The United States has a pro-bitcoin President going to the White House. And investors are realizing bitcoin may be the solution they need. The results speak for themselves.

Hope you all have a great start to your week. I’ll talk to everyone tomorrow.

-Anthony Pompliano

Founder & CEO, Professional Capital Management

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Adam Kobeissi and Anthony Pompliano Discuss Gold and Bitcoin

Adam Kobeissi is the founder of ‘The Kobeissi Letter.’, and Anthony Pompliano, CEO of Professional Capital Management, discuss bitcoin and gold.

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