What's up, guys? On today's episode of Full Signal, we have Pomp, Anthony Pompiliano, the CEO of

Professional Capital Management. He joins me to talk about Bitcoin, why it did not do well in 2025,

and what he thinks it'll do this year, and AI, how he's thinking about it, how people should be

building on it, what young people should be doing in their corporate jobs with AI.

This is a fantastic primer on the new technology and how investors should be approaching it.

I hope you enjoy this conversation.

Pomp, we are coming off the year that was supposed to be the biggest year for Bitcoin.

We had so many tailwinds going into it.

That did not happen. Tell us why.

Well, I think there's a lot of different things, right? I think if you look at economic policy

shifted, I think that sentiment shifted in the market. And I also think that there are a lot of

these changes that hit the market at different times. But if you look at Bitcoin in particular,

there's always this difference between expectations

and reality. Bitcoin going into the year had really high expectations. And so naturally,

if you don't live up to those expectations, then people are disappointed, even if it does okay.

And so if you go back and you actually start January 1st, Bitcoin was down on the year a little

bit. But if you go back to November 1st, just the difference of 60 days, Bitcoin was up. It started November 1st at 69,000, right? It obviously ended up higher than that at the end of 2025. And so you always got to be careful of some of the misleading data, you know, the difference between 60 days. But at the same time, it was down in 2025 and people thought it was going to be up a lot more. So I think that's where a lot of the disappointment comes from. If you asked me why it didn't go up, you know, you also have to remember it did go up and then it came down. And so there's always this kind of element of, okay, well, what happened over a 12-month period? First thing is there is global stability coming back, right? Bitcoin's supposed to be a

chaos hedge. Well, if there's less chaos, then people change the way they view the chaos hedge.

I don't need that as much right now, right? And so I think that stability, if you look, obviously,

the Israel-Hamas stuff ending, I think that Ukraine, Russia is probably closer than ever to signing a peace deal. There's all these kind of components that have really come into the market. And a lot of that is because the U.S. has basically stood up and said, we are going to go back to being the world police. We're going to go and enforce this stuff. We are going to go and decrease Iran's nuclear capabilities, like all this stuff. So that ends up leading to maybe the people

who are buying Bitcoin as a chaos hedge, not necessarily needing it. The second thing is that

Wall Street entered the game. And when Wall Street enters the game, they play a very different

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