- Bitcoin is up 8x since the last halving in 2020 despite recent volatility
- Anthony Pompliano explained on Fox Business that Bitcoin has outperformed all other assets since 2020
- While Bitcoin crashed over the weekend, it was not the only asset impacted as investors sold to get US dollars
Anthony Pompliano, a venture capitalist and vocal Bitcoin supporter, recently appeared on Fox Business to discuss the cryptocurrency’s performance. Despite the major market crash over the weekend, Pompliano emphasized that Bitcoin has seen tremendous growth since its last halving event in 2020.
Bitcoin’s Massive Price Appreciation Since 2020
When the previous halving occurred in 2020, Bitcoin was trading around $8,000. Now, it is exchanging hands above $60,000, after nearing $71,000 on Friday.
While admitting the cryptocurrency faced a steep decline alongside other markets, Pompliano highlighted that no other asset has appreciated close to 8x within four years like Bitcoin has.
Why the Crash Occurred Across Markets
Pompliano explained the crash was not isolated to Bitcoin. Investors sold off assets across the board, including stocks, bonds, gold, and cryptocurrency, as they rushed to accumulate USD amidst major geopolitical developments.
Still, Bitcoin’s strong performance over the long-term despite the volatility highlights its resiliency as an asset class.
The Upcoming Bitcoin Halving
During the previous halving in 2020, Bitcoin’s block rewards dropped from 12.5 BTC to 6.25 BTC per block. In the upcoming halving, rewards will fall further to 3.125 BTC.
While the halving typically creates price appreciation pressure, the event also introduces new uncertainty into the market. However, if Bitcoin follows the historical trend, it could see further parabolic upside even from its current high levels.
