BTC<\/a>) bull Anthony Pompliano says that the crypto king may witness two types of shocks in the coming months that could lead to an encore of the 2020 bull market.<\/p>\nIn a new CNBC interview, Pompliano says that regulators will eventually green-light a spot-based Bitcoin exchange-traded fund (ETF).<\/p>\n
According to the venture capitalist, Bitcoin could enter a full-blown bull market if the approval of a Bitcoin ETF happens around the time of the next BTC halving.<\/p>\n
\u201cWe have futures-based ETFs. I think we will get a spot Bitcoin ETF. The question is when.\u00a0<\/em><\/p>\nOne of the things people are not talking about though is this ETF is going to be a demand shock. There are going to be assets to flow into this industry when that occurs. But the closer and closer we get to the halving, it will coincide with a supply shock in that halving, and I think that we could see a repeat of 2020 where we go up quite significantly in price if that occurs.\u201d\u00a0<\/em><\/p>\nThe halving, which slashes BTC miners\u2019 rewards in half, is estimated to take place in April 2024.<\/p>\n
Pompliano expects blue-chip investors to flock to the leading cryptocurrency as soon as a Bitcoin ETF hits the market.<\/p>\n
\u201cIf you\u2019re a retail investor and you want exposure to Bitcoin over the last two, three, five years, you probably figured out a way to do it. So I don\u2019t think there\u2019s a ton of inflows [coming] from retail investors.\u00a0<\/em><\/p>\nI do think though that sovereign wealth funds or very large institutions, they\u2019re not going on Coinbase and buying spot Bitcoin. I think that\u2019s where the ETF inflows could happen.\u201d\u00a0<\/em><\/p>\nAt time of writing, Bitcoin is trading for $25,872.<\/p>\n