In a recent interview on CNBC’s Squawk Box, Bitcoin, and Artificial Intelligence expert Anthony Pompliano pointed out that investors have shifted their attention from Bitcoin to AI, causing the recent price drop in Bitcoin.
Pompliano emphasized Bitcoin’s impressive performance over the past year, noting a 100% increase, and advised against reacting to daily price fluctuations, advocating for a long-term investment strategy.
Bitcoin is currently trading at $59,701.22, down 6.07% in the last 24 hours, presenting a potential buying opportunity, according to Pompliano.
Pompliano also believes that AI and blockchain technology are complementary to each other, suggesting that the option of investing in Bitcoin will inevitably attract more attention as AI expands. According to him, this trend may result in the restoration of the Bitcoin price increase and the improvement of the U.S economy due to AI productivity.
Some of the other prominent personalities hold a similar opinion like Pompliano as well. Another popular stock market expert, Robert Kiyosaki also stated that he wants to buy more bitcoins during lows.
The latest drop in the price of Bitcoin can partially be explained by the fact that some investors transfer their funds to the development of AI technologies. Pompliano noted that there is interest and investment when it comes to the application of AI in automation and wealth creation and this has for a while shifted focus from bitcoins commodities.
Although the technology is mixed with AI, Pompliano is certain that Bitcoin will remain an important application in the future financial system.
Also read: Bitcoin Plunges Below $61K Amid Massive Liquidations
