Bitcoin (BTC) Could Become Next Global Reserve Currency: Anthony Pompliano

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Tue, 02/25/2020 - 19:11
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Alex Dovbnya
Anthony Pompliano of Morgan Creek Digital talks all things Bitcoin on CNN
Bitcoin (BTC) Could Become Next Global Reserve Currency: Anthony Pompliano
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During his interview with CNN's Julia Chatterley, cryptocurrency evangelist Anthony Pompliano predicted that Bitcoin (BTC) could become the next global reserve currency. 

"We believe that the Bitcoin monetary policy is superior to central banks' monetary policy. Ultimately, Bitcoin will be the winner, and it will be the next global reserve currency at some point in the future."      

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Old wine in a new bottle  

Last week, Sweden's Riksbank started testing e-krona. While the idea of issuing the coin is still up in the air, this pilot shows that the country is ahead of the curve when it comes to modernizing its financial infrastructure. 

Pompliano believes that more central banks around the globe will follow Sweden's lead. However, it doesn't mean that their digital currencies are going to replace Bitcoin. 

"Really what I think people need to understand is that all of the central bank digital currencies are simply taking the existing monetary policy and changing the technology form factor."

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Bitcoin fulfills its purposes 

Pompliano also dispelled the myth that Bitcoin is only used for price speculations by pointing to the fact that its adjusted on-chain transaction volume surpassed half a trillion dollars. 

"What it means that it will be bigger than Venmo, ApplePay, PayPal, etc. in terms of transaction volumes."

Bitcoin is up 30 percent this year, which is enough to fulfill its purpose of a store of wealth, according to Pompliano.

As reported by U.Today, he recently predicted that the BTC price could skyrocket to $100,000 by 2022.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.