Thomas Daniels
Anthony Pompliano, a prominent cryptocurrency investor and co-founder of Morgan Creek Digital, stated that Bitcoin holders were the first significant group to question the reliability of United States economic data—and they positioned themselves to benefit financially from that insight.
“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 wrote on April 12.
He also suggested that the broader financial community has yet to acknowledge the shortcomings of official statistics. “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 noted, referencing data related to inflation, employment, and GDP.
His remarks echo a March 20 statement in which Pompliano highlighted comments made by U.S. Treasury Secretary Scott Bessent during an appearance on the All-In podcast. When asked directly if he trusted government economic data, Bessent responded with a candid, “no,” further fueling concerns over the credibility of official reports.
The reliability of U.S. economic data has been under scrutiny for some time. A July 2024 report emphasized the need for new methodologies to ensure continued trust in government-issued statistics.
These doubts come amid heightened tensions surrounding tariffs imposed by former President Donald Trump. Some market participants now suggest that Bitcoin may prove more durable than the U.S. dollar. Jeff Parks, head of alpha strategies at Bitwise Invest, recently argued there is a growing probability that Bitcoin could outlast the dollar in the long term.
Supporting this sentiment, the U.S. Dollar Index (DXY) has fallen by 3.19% over the past five days, currently sitting at 99.783. This decline contradicts earlier forecasts by several Wall Street analysts who believed the tariffs would support the greenback.
Pompliano criticized what he termed the “intellectual boondoggle” of mainstream finance, where analysts, he said, often repeat flawed conclusions based on unreliable data.
Interestingly, while the U.S. stock market experienced significant losses on April 4 due to macroeconomic uncertainties, Bitcoin demonstrated atypical resilience. It remained above $82,000 and even rallied to $84,720—behavior that deviates from its usual correlation with equities during periods of heightened volatility.
Arthur Hayes, former CEO of BitMEX, suggested that Bitcoin could be entering an “up only mode,” driven by a deteriorating bond market and declining confidence in traditional safe-haven assets.
