Wall Street need not be squeamish about Bitcoin’s ups and downs: Pomp
Bitcoiners aren’t new to 30% drawdowns, but it could be a first for many Wall Street investors, said crypto commentator Anthony Pompliano.
Institutional investors new to crypto may have been caught off guard by Bitcoin’s volatility, and has put downward pressure on its price, according to crypto entrepreneur and investor Anthony Pompliano.
During an interview on CNBC’s Squawk Box on Monday, Pompliano said Bitcoin (BTC) draws down roughly once every 1.5 years, and the recent slump isn’t likely to surprise Bitcoiners who have been in the game for a long time.
“Over the last decade, Bitcoin has drawn down 30% or more 21 different times,” said Pompliano.
