- Anthony Pompliano believes Bitcoin is the best asset to preserve wealth in the upcoming future.
- He says Bitcoin has the properties to outlive fiat, given that it shares some of the characteristics of gold.
In a recent interview with Cointelegraph, Anthony Pompliano explained why Bitcoin is the ideal asset to preserve wealth in the near future. He said that he bought more BTC following the recent market crash. When asked if there are any other investment-worthy cryptos on the market, he pointed out that “money is a belief system, and until now, the market believes that Bitcoin is more valuable than everything else.”
Speaking about the possible impact of Bitcoin halving on prices, Pompliano said that this event can’t be priced-in. He said this because there isn’t a 100% consensus on the meaning of this event and its impact on Bitcoin’s value among Bitcoin holders. Additionally, Pompliano noted that there will be new buyers before and after the halving, who aren’t even aware of the event. Hence, he thinks that “within the 18 months post-halving, we’ll see an explosion in the US dollar price [of Bitcoin]”.
According to Pompliano, the dollar-based system will eventually fail just like other currencies have failed in the past. On the other hand, Bitcoin has the properties to outperform and outlive fiat, given that it has some similar properties of gold. Pompliano believes both gold and Bitcoin will do well in the future. Nevertheless, he favors Bitcoin because of its potential to go higher in value and the transparency of its supply.
How much gold is there in the world? You can’t tell me (…) There is no person in the world who can answer this question. I am not putting my wealth there.
Despite his positive stance on BTC, Pompliano asked people to hold tight to their cash to survive the economic crisis caused by the current pandemic. He advised investors to prepare for the upcoming hyperinflation by purchasing other assets only after the current storm has passed.
You can put a bandana around your eyes and pick any asset, it will probably go up in price at some point.
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