In an interview for CNBC on 20 August, Morgan Creek Digital Assets co-founder Anthony Pompliano said that more infrastructure is being built around bitcoin and the crypto markets are becoming broader every week.

“The more infrastructure built around cryptocurrencies, the more likely it is that cryptocurrencies will stay. In the end, they will end up being in every institutional investor’s portfolio,” Pompliano stated. He mentioned the growing legitimization of the crypto space, inflows of institutional capital, record trading volumes, and a climate of global instability that supports the recognition of bitcoin as a safe asset.

However, Pompliano also identified several factors that could temporarily suppress the price of the asset in the short run. These include regulation which, he admitted, could initially discourage investors. Secondly, the number of people who own bitcoin still represents a very small portion of the global population and many are yet to understand what bitcoin is and how it works. Pompliano further noted that bitcoin is still relatively complicated to buy.

Pompliano invested 50% of his wealth in bitcoin and he does not consider this to be a very risky move. He also said recently that bitcoin would hit USD100,000 by the end of 2021.