04-13-2025, 07:58 AM
Bitcoiners were first to realize US economic data ‘was wrong’ — Pompliano
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5MzkxOWEtZTY4ZC03MzRiLWJhM2UtYjQ2NjEyMzYwNmNl.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5MzkxOWEtZTY4ZC03MzRiLWJhM2UtYjQ2NjEyMzYwNmNl.jpg" alt="Bitcoiners were first to realize US economic data ‘was wrong’ — Pompliano"></p><p>Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) holders were the first to point out flaws in the United States economic data and position themselves for the potential upside, says crypto entrepreneur Anthony Pompliano.<p>“Bitcoiners were the first large-scale group to recognize the economic data was wrong, and they figured out a way to financially capture upside if they were right,” Pompliano <a data-ct-non-breakable="null" href="https://x.com/APompliano/status/1911085836285657206" rel="null" target="null" text="null" title="null">said</a> in an April 12 X post.</p><h2>Pompliano foresees more will realize data is “inaccurate”</h2><p>“The unspoken secret as to why so many finance folks are wrong in their analysis of the tariffs is because the finance folks believe the government data,” he added.</p><p>Amid the widespread uncertainty and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-exempts-select-tech-products-tariffs-crypto-benefit" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-exempts-select-tech-products-tariffs-crypto-benefit">ongoing fear over US President Donald Trump’s</a> imposed tariffs, Pompliano questioned the accuracy of US inflation figures, job numbers, and GDP statistics. He added that “eventually everyone else will realize the data is inaccurate.” </p><p>It comes after Pompliano <a data-ct-non-breakable="null" href="https://www.linkedin.com/pulse/economic-data-wrong-fed-should-have-cut-rates-anthony-pompliano-1mwxe/" rel="null" target="null" text="null" title="null">pointed</a> out in a March 20 LinkedIn post, US Treasury Secretary Scott Bessent’s appearance on the All-In podcast, where Bessent was asked directly if he trusted the data — and replied, “no.”</p><blockquote>“Even the Treasury Secretary has now publicly acknowledged he doesn’t believe the data. He says we must listen to the people rather than blindly follow the government data reports.”</blockquote><p>Concerns about the reliability of US economic data have been brewing for a while. A July 2024 report <a data-ct-non-breakable="null" href="https://www.nytimes.com/2024/07/09/business/economy/economic-data-response-rates.html" rel="null" target="null" text="null" title="null">argued</a> that new approaches are needed to “ensure government statistics remain dependable.”</p><figure><img alt="United States, Data" src="https://s3.cointelegraph.com/uploads/2025-04/01962de8-326a-7a78-aa59-f5d73abf9bc9" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/APompliano/status/1910866592650457370" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/APompliano/status/1910866592650457370"><em>Anthony Pompliano</em></a></p></figcaption></figure><p>It comes as ongoing concerns over Trump’s imposed tariffs have led some crypto analysts to reinforce the idea that Bitcoin could outlast the US dollar in the long run.</p><p>Bitwise Invest head of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-odds-outlasting-united-states-dollar-tariffs-crypto-analysts" rel="null" target="null" text="null" title="null">alpha strategies Jeff Parks said</a> on April 9 that there is a “higher chance Bitcoin survives over the dollar in our lifetime after today.” </p><p>Over the past five days, the US dollar index (DXY) has dropped 3.19%, currently sitting at 99.783 at the time of publication, <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/TVC-DXY/" rel="null" target="null" text="null" title="null">according</a> to TradingView data.</p><figure><img alt="United States, Data" src="https://s3.cointelegraph.com/uploads/2025-04/01962ddd-c979-7c96-aac9-d5e58e538f46" title=""><figcaption style="text-align: center;"><p><em>The US dollar index is down 8.06% since the beginning of 2025. Source: </em><a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/TVC-DXY/?timeframe=YTD" rel="nofollow noopener" target="_blank" text="null" title="https://www.tradingview.com/symbols/TVC-DXY/?timeframe=YTD"><em>TradingView</em></a></p></figcaption></figure><p>Several Wall Street analysts were under the belief that Trump’s imposed tariffs would bolster the US dollar, according to a recent Wall Street Journal <a data-ct-non-breakable="null" href="https://www.wsj.com/finance/currencies/trump-tariffs-us-dollar-217b3dc9" rel="null" target="null" text="null" title="null">report</a>. </p><p>Pompliano said, “The mainstream finance conversation has become an intellectual boondoggle where most people regurgitate ill-informed takes based on bad data.”</p><h2>Analysts recently pointed out Bitcoin’s recent breakaway from stocks</h2><p>Meanwhile, analysts recently pointed out that while the stock market was “tanking” on April 4 amid tariff uncertainty, Bitcoin <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/united-states-stock-market-decline-market-cap-crypto-wall-street" rel="" target="_self" text="null" title="https://cointelegraph.com/news/united-states-stock-market-decline-market-cap-crypto-wall-street">didn’t decline as much as expected</a>. During periods of macroeconomic uncertainty, Bitcoin and crypto assets have historically been more volatile than the stock market.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-soars-to-83-5-k-have-pro-btc-traders-turned-bullish" rel="null" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-price-soars-to-83-5-k-have-pro-btc-traders-turned-bullish"><em><strong>Bitcoin price soars to $83.5K — Have pro BTC traders turned bullish?</strong></em></a></p><p>On April 4, Cointelegraph reported that <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-decouples-stocks-lose-3-5-t-amid-trump-tariff-war-and-fed-warning-of-higher-inflation" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-decouples-stocks-lose-3-5-t-amid-trump-tariff-war-and-fed-warning-of-higher-inflation">Bitcoin was steady above the $82,000 level</a>, and as US equities markets collapsed, Bitcoin rallied to $84,720, reflecting price action, which is uncharacteristic of the norm.</p><p>Meanwhile, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-preparing-for-up-only-mode-as-us-bonds-suffer-worst-selloff-since-2019" rel="null" target="null" text="null" title="null">former BitMEX CEO Arthur Hayes</a> said Bitcoin may be entering what he calls “up only mode,” as a deepening crisis in the US bond market potentially drives investors away from traditional haven assets and toward alternative stores of value.</p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/memecoin-degeneracy-is-funding-groundbreaking-anti-aging-research/" rel="null" target="null" text="null" title="null"><em><strong>Memecoin degeneracy is funding groundbreaking anti-aging research</strong></em></a></p><template data-name="subscription_form" data-type="crypto_biz" label="Subscription Form: Crypto Biz Newsletter"></template></p>
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https://cointelegraph.com/news/bitcoiner...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5MzkxOWEtZTY4ZC03MzRiLWJhM2UtYjQ2NjEyMzYwNmNl.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5MzkxOWEtZTY4ZC03MzRiLWJhM2UtYjQ2NjEyMzYwNmNl.jpg" alt="Bitcoiners were first to realize US economic data ‘was wrong’ — Pompliano"></p><p>Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) holders were the first to point out flaws in the United States economic data and position themselves for the potential upside, says crypto entrepreneur Anthony Pompliano.<p>“Bitcoiners were the first large-scale group to recognize the economic data was wrong, and they figured out a way to financially capture upside if they were right,” Pompliano <a data-ct-non-breakable="null" href="https://x.com/APompliano/status/1911085836285657206" rel="null" target="null" text="null" title="null">said</a> in an April 12 X post.</p><h2>Pompliano foresees more will realize data is “inaccurate”</h2><p>“The unspoken secret as to why so many finance folks are wrong in their analysis of the tariffs is because the finance folks believe the government data,” he added.</p><p>Amid the widespread uncertainty and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-exempts-select-tech-products-tariffs-crypto-benefit" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-exempts-select-tech-products-tariffs-crypto-benefit">ongoing fear over US President Donald Trump’s</a> imposed tariffs, Pompliano questioned the accuracy of US inflation figures, job numbers, and GDP statistics. He added that “eventually everyone else will realize the data is inaccurate.” </p><p>It comes after Pompliano <a data-ct-non-breakable="null" href="https://www.linkedin.com/pulse/economic-data-wrong-fed-should-have-cut-rates-anthony-pompliano-1mwxe/" rel="null" target="null" text="null" title="null">pointed</a> out in a March 20 LinkedIn post, US Treasury Secretary Scott Bessent’s appearance on the All-In podcast, where Bessent was asked directly if he trusted the data — and replied, “no.”</p><blockquote>“Even the Treasury Secretary has now publicly acknowledged he doesn’t believe the data. He says we must listen to the people rather than blindly follow the government data reports.”</blockquote><p>Concerns about the reliability of US economic data have been brewing for a while. A July 2024 report <a data-ct-non-breakable="null" href="https://www.nytimes.com/2024/07/09/business/economy/economic-data-response-rates.html" rel="null" target="null" text="null" title="null">argued</a> that new approaches are needed to “ensure government statistics remain dependable.”</p><figure><img alt="United States, Data" src="https://s3.cointelegraph.com/uploads/2025-04/01962de8-326a-7a78-aa59-f5d73abf9bc9" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/APompliano/status/1910866592650457370" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/APompliano/status/1910866592650457370"><em>Anthony Pompliano</em></a></p></figcaption></figure><p>It comes as ongoing concerns over Trump’s imposed tariffs have led some crypto analysts to reinforce the idea that Bitcoin could outlast the US dollar in the long run.</p><p>Bitwise Invest head of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-odds-outlasting-united-states-dollar-tariffs-crypto-analysts" rel="null" target="null" text="null" title="null">alpha strategies Jeff Parks said</a> on April 9 that there is a “higher chance Bitcoin survives over the dollar in our lifetime after today.” </p><p>Over the past five days, the US dollar index (DXY) has dropped 3.19%, currently sitting at 99.783 at the time of publication, <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/TVC-DXY/" rel="null" target="null" text="null" title="null">according</a> to TradingView data.</p><figure><img alt="United States, Data" src="https://s3.cointelegraph.com/uploads/2025-04/01962ddd-c979-7c96-aac9-d5e58e538f46" title=""><figcaption style="text-align: center;"><p><em>The US dollar index is down 8.06% since the beginning of 2025. Source: </em><a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/TVC-DXY/?timeframe=YTD" rel="nofollow noopener" target="_blank" text="null" title="https://www.tradingview.com/symbols/TVC-DXY/?timeframe=YTD"><em>TradingView</em></a></p></figcaption></figure><p>Several Wall Street analysts were under the belief that Trump’s imposed tariffs would bolster the US dollar, according to a recent Wall Street Journal <a data-ct-non-breakable="null" href="https://www.wsj.com/finance/currencies/trump-tariffs-us-dollar-217b3dc9" rel="null" target="null" text="null" title="null">report</a>. </p><p>Pompliano said, “The mainstream finance conversation has become an intellectual boondoggle where most people regurgitate ill-informed takes based on bad data.”</p><h2>Analysts recently pointed out Bitcoin’s recent breakaway from stocks</h2><p>Meanwhile, analysts recently pointed out that while the stock market was “tanking” on April 4 amid tariff uncertainty, Bitcoin <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/united-states-stock-market-decline-market-cap-crypto-wall-street" rel="" target="_self" text="null" title="https://cointelegraph.com/news/united-states-stock-market-decline-market-cap-crypto-wall-street">didn’t decline as much as expected</a>. During periods of macroeconomic uncertainty, Bitcoin and crypto assets have historically been more volatile than the stock market.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-soars-to-83-5-k-have-pro-btc-traders-turned-bullish" rel="null" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-price-soars-to-83-5-k-have-pro-btc-traders-turned-bullish"><em><strong>Bitcoin price soars to $83.5K — Have pro BTC traders turned bullish?</strong></em></a></p><p>On April 4, Cointelegraph reported that <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-decouples-stocks-lose-3-5-t-amid-trump-tariff-war-and-fed-warning-of-higher-inflation" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-decouples-stocks-lose-3-5-t-amid-trump-tariff-war-and-fed-warning-of-higher-inflation">Bitcoin was steady above the $82,000 level</a>, and as US equities markets collapsed, Bitcoin rallied to $84,720, reflecting price action, which is uncharacteristic of the norm.</p><p>Meanwhile, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-preparing-for-up-only-mode-as-us-bonds-suffer-worst-selloff-since-2019" rel="null" target="null" text="null" title="null">former BitMEX CEO Arthur Hayes</a> said Bitcoin may be entering what he calls “up only mode,” as a deepening crisis in the US bond market potentially drives investors away from traditional haven assets and toward alternative stores of value.</p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/memecoin-degeneracy-is-funding-groundbreaking-anti-aging-research/" rel="null" target="null" text="null" title="null"><em><strong>Memecoin degeneracy is funding groundbreaking anti-aging research</strong></em></a></p><template data-name="subscription_form" data-type="crypto_biz" label="Subscription Form: Crypto Biz Newsletter"></template></p>
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https://cointelegraph.com/news/bitcoiner...er_inbound