Anthony ‘Pomp’ Pompliano: Bitcoin Just Got Wall Street’s Blessing
One of the most articulate advocates for Bitcoin (BTC), Anthony ‘Pomp’ Pompliano, has long been claiming that Bitcoin’s moment of true validation from traditional finance circles was not a matter of ‘if’, but ‘when’. It seems that “when” is now. I
In one of his latest videos, Pomp breaks down a recent development that suggests Bitcoin is not only ready for mainstream adoption but has received a kind of blessing from Wall Street itself.
KPMG’s Game-Changing White Paper
Leading this revolution is none other than the giant audit, tax, and advisory firm, KPMG. In a groundbreaking move, KPMG released a white paper that classifies Bitcoin as an ESG (Environmental, Social, and Governance) friendly asset. This isn’t just a baseless claim. In fact, KPMG meticulously applied the ESG framework to Bitcoin, demonstrating precisely how the cryptocurrency aligns with these principles.
They tackled the age-old critique of Bitcoin’s alleged environmental damage by highlighting a significant fact: about 60% of the energy consumed by Bitcoin mining comes from renewable sources. To put this into perspective, the American industry’s average is roughly 18%. This indicates that Bitcoin is substantially greener than many of its critics give it credit for.
Beyond Environment: Social and Governance Impacts
Pomp enthusiastically detailed Bitcoin’s potential on the social front. He cites examples such as fundraising initiatives in Ukraine, the ease of remittances, and the cryptocurrency’s ability to serve as a bulwark against inflation as clear indications of its social merits.
On the governance side, Bitcoin’s decentralized nature stands out. In a world where centralized systems are increasingly under scrutiny, the fact that Bitcoin isn’t governed by a single entity or organization underscores its democratic potential. It’s not only resistant to manipulation but also promotes wider, more inclusive participation.
Watch Pomp’s latest video…
MicroStrategy’s Bold Stance
The signs of Wall Street’s warming attitude towards Bitcoin don’t stop at KPMG. MicroStrategy, a major business analytics platform, has shown immense faith in Bitcoin. They recently upped their investment game by acquiring an additional $14 million worth of the cryptocurrency. This brings their total Bitcoin holdings to a staggering 152,800. Moreover, their strategy to issue $750 million in potential shares, likely to convert the proceeds into Bitcoin, is a testimony to their bullish stance on the cryptocurrency.
Signs of the Times: Bitcoin Metrics
Beyond these big endorsements, Pomp pointed out some compelling Bitcoin metrics. There’s been a 30% reduction in the number of Bitcoins on exchanges since 2020. This could suggest a shift towards long-term holding, indicating growing confidence in the cryptocurrency as a store of value. The fact that the Bitcoin network is nearing 1 billion transactions further reinforces its growing importance in the global financial ecosystem.
Regulatory Green Light?
Talks of Bitcoin regulation have been omnipresent in the financial world. A recent discussion, as shared by Pomp, revolved around Coinbase, with regulators suggesting they only list Bitcoin. This, in many ways, is an affirmation of Bitcoin’s established status. It’s increasingly seen as having navigated the regulatory minefields successfully, signaling a green light for more institutional participation.
For Bitcoin investors, this could be the moment they’ve been waiting for. With Wall Street giants like KPMG and MicroStrategy endorsing Bitcoin’s value and potential, it seems Bitcoin (BTC) is set for even loftier heights. As Pomp often reiterates, Bitcoin is more than just a digital currency, it’s a movement, and now it seems, Wall Street is joining the parade.