Market News

Morgan Creek Digital founder Anthony Pompliano thinks that the entire cryptoverse is underestimating Bitcoin’s potential to completely overhaul the global financial market.

On an episode of Real Vision with Raoul Pal, Pompliano reveals what he truly believes about Bitcoin.

The CEO compares the potential future mass adoption of Bitcoin to the natural digitization process of all assets and products, noting that the digital version of everything has always come out on top.

“I think Bitcoin is going to be the next global reserve currency and I think that every single person that’s listening to this, every single person in the industry is completely underestimating this thing. I believe that Bitcoin is not only the hardest soundest money we’ve ever seen in the world but I think it’s the absolute apex predator in financial markets.

The reason why I think that is because there is one key trend that most people in finance don’t understand and it is the superiority of digital assets or digital products over analog products and assets. So the technology industry is better suited to understand this component which is if you look at, store of value and medium of exchange assets historically those have been analog and then they basically became these electronic CUSIP assets which was just a slight improvement on the analog version… The digital product is not only superior to the analog or electronic products but it also never… smaller than the analog equivalent.” 

Pomp says that the internet is moving human society into a more proof-based information climate which is destroying the narrative that gold is scarce, and instead, proving that Bitcoin is the true scarce store-of-value asset.

“If you make a single statement: ‘Gold is scarce,’ and I say ‘Prove it,’ you can’t. If I say to you ‘Bitcoin is scarce,’ and you say ‘Prove it,’ I can show you there are 21 million Bitcoin. I can show you the exact number in the circulating supply. I can show you the exact daily incoming supply and if I say ‘Great, this is Bitcoin, show me gold’s equivalent,’ nobody can do it. You have to put an asterisk next to every number and say it’s estimated. This is important. This really really upsets the legacy finance folks and it upsets the gold bug community but the reason why it’s so important is that gold is a narrative and Bitcoin is provable.”