GIFA Token floating over the Gold bars / ScienceTechniz Morgan Creek Capital founder Anthony Pompliano said that every company around the ...
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| GIFA Token floating over the Gold bars / ScienceTechniz |
Anthony Pompliano participated in CNBC's Fast Money program and made a comparison between gold and bitcoin. Saying that Bitcoin is more effective than gold in many different ways, Pompliano reminded that the basis of these two assets is the same: the solid money principle.
It will leave the digital-analog behind
According to Pompliano, although gold and bitcoin follow the 'solid money principle', they differ in one aspect: While gold is the analog representative of this principle, bitcoin is the digital representation of this principle. Morgan Creek Capital's founder commented at this point: "There is currently not a single digital product that has replaced analog that has a smaller market than analog."
Pompliano based his argument on this; He argued that Bitcoin is at least 10 times better than gold in whatever way it is compared. Providing sharp predictions that Bitcoin will replace gold, the investor said, "Even if Bitcoin only doubled the market value of gold, it would have a price of $ 1 million." said.
Both public and private companies will receive bitcoin
Anthony Pompliano's prediction is that in the future many public/private companies around the world will start buying cryptocurrencies. It was stated that what will trigger this will be the huge liquidity pumped into the economy and the gradually melting purchasing power. According to Pompliano, institutions that normally turn to gold as a precaution against these will now turn to bitcoin.
Explaining how much this will affect the price of bitcoin, the investor said, “We have seen that only a few Wall Street companies have bought bitcoin so far. … We will see every public company buying more as much as they could. I think bitcoin is really underestimated. " He further commented.
In his statements for the future, Pompliano said, “There will be decreases of 20 percent and 30 percent. These can be fast or long term declines… But it can be said that bitcoin will surpass gold in the long run. " used the expressions.