Today’s Letter Is Brought To You By Consensus: Hong Kong.

The world’s most ambitious builders and boldest investors are coming to Consensus Hong Kong (Feb. 18-20, 2025) to make connections and shape the future of digital assets. Whether you’re focused on Bitcoin’s evolution or the latest breakthroughs in Web3 and DeFi, this is where the industry does business.

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• Bitcoin: The Basis for a New Financial System – Unpack Bitcoin’s role in reshaping global finance.

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To investors,

Wall Street is embracing Bitcoin in a way that was previously thought to be impossible. Over the last 48 hours we have heard a flurry of positive comments from numerous CEOs and leaders.

First, Bridgewater’s Ray Dalio said on CNBC that he thought non-government money, including bitcoin, reduced risk in a portfolio. He explicitly stated that he owned bitcoin and thought it was interesting.

Second, Bank of America CEO Brian Moynihan shared a belief that banks “will come in hard” to crypto if they get the regulatory approvals necessary to reduce their risk. Moynihan specifically talked about the benefits of stablecoins, along with the benefits of crypto rails for payments.

Third, Goldman Sachs CEO David Solomon said this morning that he does not believe bitcoin is a threat to the US dollar. He sees the digital currency more akin to an interesting speculative tool.

Fourth, the SEC recently announced a new crypto task force led by Hester Pierce. The group’s goal is to create common sense, clear rules for the crypto industry. This is a substantial 180-degree difference from the previous regulatory approach under the past administration.

Lastly, Blackrock CEO Larry Fink said this morning “if you are frightened of debasement of your currency…you can have an internationally based instrument called Bitcoin….I’m a big believer.” Pretty big statement coming from a powerful and influential leader on Wall Street.

My conclusion from hearing these various interviews and announcements is that bitcoin has finally arrived on Wall Street. The ETF launches were the initial crack in the dam, but now we are watching full-blown adoption of bitcoin by the traditional market.

If we fast forward a few years, I fully expect banks to be custodians of crypto assets, crypto tokens will be stuffed in every traditional finance wrapper, and investors will be normalized to investing in tokens just like they invest in stocks today.

As the new and old world collide, we will end up with a hybrid. The best parts of the old world will survive. The bad parts of the old world will disappear. This is how technology innovation works. And it will be a win-win for market participants regardless of which world they started out in.

Macro investors. Bank CEOs. Regulators. Asset managers. They all agree — bitcoin is here to stay.

While it was once cool to be a detractor on bitcoin, that position has quickly become an unpopular one that makes someone look uninformed and ill-prepared for the future.

Hope you have a great day. I’ll talk to everyone tomorrow.

– Anthony Pompliano

Founder & CEO, Professional Capital Management

🚨 READER NOTE: I am hosting Bitcoin Investor Week in NYC from February 24-28th. This will be the largest finance conference of the year focused on bitcoin. Speakers include Mike Novogratz, Cathie Wood, Jan van Eck, Anthony Scaramucci, Jack Mallers, and many others.

You can purchase tickets here: Get ticket for Bitcoin Investor Week

Anthony Pompliano Discusses Bitcoin, Trump Presidency, and the US Economy

John Pompliano and Anthony Pompliano discuss bitcoin hitting another all-time high, meme coins, Trump’s inauguration, why so many tech CEO’s were there, how Stanley Druckenmiller looks at the economy moving forward, Joe Biden’s legacy, and the outlook for the Trump presidency.

Enjoy!

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