The founder and partner at Morgan Creek Digital, Anthony Pompliano throws some decent words for the crypto juggernaut, bitcoin crowing it as the future global reserve currency. As per Pomp’s statement, bitcoin has got it all to act as the legitimate unit of monetary worth or value. Bitcoins has seen the most of the financial structures than any other crypto making it the most suitable choice out of all the digital assets to be declared as the perfect supplant of the fiats. Pomp further suggests that though it is the requirement for the cryptos to excel amongst the financial trends, it is to take time for the crypto markets to mature and for the authorities to recognize the potential in the cryptos qualifying them for the race to be the fiat supplant, eventually.
I’m highly confident for the bitcoin to turn out as the next legit global reserve currency. It may take a lot of time say 50 years but it sure is a great opportunity to strike gold.
The cryptocurrencies have seen a major shade thrown at them by the incumbent authorities hindering any reforms for them to happen that could previously make a difference bringing the cryptos out of shadows towards the limelight. Crypto adoption is another portion of the play which must be headed towards in order to bring the popularity factor for the cryptos. Though most of the newer generations are being pulled towards the new crypto trends, there still need a huge bulk of audience to help build a strong fanbase that can ask the governments to regularise cryptos.
The steps are there but as Pomp suggests, there must be enough exposure for the cryptos to go through once to eventually land as the globally recognized defiant currency to stick with us for the future as we see it. Pomp explains that the financial trends are more on the bullish side as the crypto assets are on the upward charts for quite sometime. Now that the bear market is done for, the crypto are destined to succeed to prosperity. Pomp is awaiting for the right people to give cryptos, more specifically bitcoin the final push to make a grab for the crown Pomp envisages for it.
Anthony Pompliano explains that bitcoin saves energy and resources as compared to the fiat currencies as per the transaction processes are concerned. As fiats are physical monetary units, they require physical storage capacity and other security loopholes. Pomp suggest maybe 50 years for the cryptos to reach the eventual destination but he remarks it can happen way before our claimed deadline. With bitcoin as the true standard bearer for the cryptos there must be thoughts for the alternate reality where cryptos fail altogether. Pomp describes that it will be him standing in the first row to accept that he is wrong if that scenario ever happens in the real world. He also claims that if bitcoin does not make it to the “crown”, no other decentralized digital asset can which leaves a little space for any other crypto to surpass bitcoin and reach for the top place.
Edited on 11/01/2018 2.48 AM PKT for title typo correction.