Bitcoin now reigns supreme on Wall Street, according to Pompliano's assertion.

In a groundbreaking shift, Wall Street has fully embraced Bitcoin as a source of profitability and volatility distinct from traditional markets. This acceptance is a testament to the growing recognition of Bitcoin's potential as a strategic tool for long-term returns and hedging.

Anthony Pompliano, CEO of Professional Capital Management (ProCap), has gone as far as to dub Bitcoin the "king of Wall Street". This moniker reflects the evolving landscape of traditional finance and the rise of cryptocurrencies and new technologies.

The US Securities and Exchange Commission (SEC) played a pivotal role in this transformation by approving Bitcoin Exchange-Traded Funds (ETFs) in 2024. This decision marked a significant milestone for the crypto market, signalling the traditional financial world's acceptance of cryptocurrencies.

Following the SEC's approval, major institutions like BlackRock, Fidelity, and VanEck launched Bitcoin ETFs on US exchanges such as NYSE Arca, Cboe BZX, and Nasdaq. Institutional capital, previously reserved or skeptical, now views Bitcoin as an integral part of various investors' portfolios.

Bitcoin's limited emission of 21 million units and its cryptography-based design ensure an unalterable monetary policy, making it an attractive alternative to traditional currencies. This, combined with Bitcoin's ability to resist inflation and offer a more reliable store of value, has led to its increasing association with "digital gold".

The significant loss of purchasing power of the US dollar has driven many investors to seek options that protect capital against inflation. In this global economic transition, Bitcoin has strengthened as a solid candidate. It is now increasingly integrated into traditional portfolios and recognised as a refuge against the constant depreciation of the US dollar.

Moreover, Bitcoin's influence extends beyond finance, with associations emerging in sectors such as real estate. This broader acceptance underscores the far-reaching impact of Bitcoin's integration into the mainstream financial world.

In conclusion, Bitcoin has moved from being a marginal asset to a central and consensus element within institutional investments. Its journey from the fringes of finance to the heart of Wall Street is a testament to its resilience, potential, and the adaptability of traditional finance in the face of technological innovation.

Bitcoin now reigns supreme on Wall Street, according to Pompliano's assertion.