Morgan and Creek Digital’s founder and partner Anthony Pompliano has been a staunch supporter of the crypto world and has never been one to shy away from showing belief in the prospects of the space. He has recently been to Greece and tweeted about the head of the International Monetary Fund (IMF) speaking about legitimization of cryptocurrencies. Pompliano reported how the IMF head talked about state-backed digital currencies providing financial security and consumer protection, among other things. Believing that the IMF is also positive about the space, he tweeted:
The Head of the IMF gave a speech today that legitimized cryptocurrencies. She said state-backed digital currencies could provide financial inclusion, security & consumer protection, and privacy in payments. The virus is spreading and now the IMF is infected!
These particular comments were met with an unusual response from Pompliano’s followers, who suggested that there is no such thing as “State-backed digital currencies”. People argued that if cryptos were to become state-backed, it would kill the entire essence of decentralization and sole ownership.
Adding to the voice was another of crypto Twitter’s famous individuals, Dr. Craig S Wright. In response to Pompliano’s comments, Dr. Wright also pointed out that there cannot be state cryptocurrencies. He responded in vigorous fashion, as ever:
One LITTLE issue There cannot be State crypto currencies If you do not get this, you do not understand bitcoin at all.
On that note, BlockPublisher decided to jump in and ask Pompliano for a clarification, to which, he did just about enough. He told that it is only a matter of time that we see everyone become fazed by Bitcoin and cryptocurrencies as a whole. He also pointed out that the current status quo is just a stage of the natural progression of the way this is bound to go. The current stage, in Pomp’s mind is where the government won’t believe in digital currencies. However, they will gradually move towards the idea and explain a proclaimed role that the state will be able to play in it and eventually, they will confine with the idea of what truly Bitcoin is. Pompliano wisely explained:
It is a progression of thought.
First they don’t believe in digital currencies. Then they fight them. Then they say there could be a role for them to play if state backed. Eventually they realize Bitcoin is the answer.
Patience is key here. Everyone eventually comes around.
Nicely played, there. Whether the IMF comes up with the stage two of what Pompliano explained, in the near future, however, is yet to be seen.