- Pompliano Believes Bitcoin’s Fundamentals Are Strong
- Pomp Said Other Countries Would Follow China and Tokenize Their Currency
Bitcoin News Today – Anthony Pompliano believes that the fundamentals of Bitcoin (BTC) are still very strong regardless of the recent price plunge. The past couple of days have not been friendly to the entire digital currency space. The massive downward plunge in the market has proven that digital currencies are highly volatile. The entire digital currency market was bleeding, from the world’s largest digital currency down to other altcoins.
Bitcoin News Today – Some of them are now showing signs of recovery. However, the gains they have amassed is nothing compared to what they lost over the week. Many digital currencies tested new six-month lows. One of the highest losers during the last plunge is XRP. XRP tested the 22 cents level, a level it has not tested for over two years now.
Bitcoin (BTC) Price Today – BTC / USD
Pompliano Believes Bitcoin’s Fundamentals Are Strong
At the press time, Bitcoin (BTC) is up by about two percent over the past day, bringing BTC to USD to $8,210. Many analysts have been giving their opinions regarding the crash in the market. In an interview with CNBC’s Squawk Box, Anthony Pompliano of Morgan Creek Digital also gave his opinion. Pompliano said that Bitcoin (BTC) is living up to its name of being a highly volatile digital currency. Nevertheless, he said that other fundamentals of the digital currency are testing new all-time highs.
Pompliano Said Other Countries Would Follow China and Tokenize Their Currency
Cryptocurrency News Today – The crypto proponent said that the US should tokenize the USD immediately. The People’s Bank of China (PBoC), which is the central bank of china, said that they have been developing the digital Yuan for the past five years. Pomp said that other nations would follow the footsteps of China and tokenize their native currencies. He said that the digital Yuan of China would be more convenient and accessible to people than the USD, further boosting the adoption of the Yuan.
Pomp was asked what the state of Bitcoin would be after the digitization of the US dollar. He answered saying, at the end of the day, people are going to go for a digital currency that is not censorable or manipulatable. Over time, people would opt for a currency that is not governed by the government, he said. Pompliano further added that:
“What is gonna happen is there is not going to be a competition between digital and non-digital currencies. Every currency will be digital. What we are going to have is a competition of monetary policy.”