Anthony Pompliano Considers Facebook’s Calibra Wallet Will Have To Support Bitcoin To Survive

  • Anthony Pompliano believes that Calibra could eventually support Bitcoin
  • He has also mentioned that Bitcoin could receive large support from institutional investors

Facebook has recently launched a digital asset called Libra that is expected to be launched as soon as next year. In order for it to work, users will have to use the Calibra wallet that would allow them to make transactions, payments and more.

During an interview with Ran Neuner of Crypto Trader, Anthony Pompliano, the co-founder of Morgan Creek Digital, mentioned that Facebook’s Calibra will eventually have to support other digital currencies to survive, including Bitcoin (BTC).

Calibra Could Support Other Digital Currencies

There have been several analysts talking about Libra and its influence in the cryptocurrency market. Indeed, the new virtual currency is clearly going to have an overall positive impact on the crypto market, specifically in Bitcoin (BTC).

During a conversation with Ran Neuner, Mr. Pompliano explained that Facebook will be giving a digital wallet to billions of individuals around the world and that it could be adding support to other digital currencies. Pompliano said about it:

“Facebook is going to give a digital wallet to billions of people around the world, and that digital wallet isn’t just for Libra the currency, right. I see a world, in the future, where they are going to add Libra support, they are going to support Bitcoin, Ethereum, all these other cryptocurrencies.”

It could also be possible for Facebook to add support for Bitcoin, bonds, commodities and other currencies under the umbrella of “tokenized securities.” This could be very positive for Facebook and the whole Libra project. Furthermore, Calibra could also hold support for healthcare data, social data and personal data.

It is worth mentioning that Libra is going to be a stablecoin backed by different fiat currencies from different countries. The U.S. dollar, the Japanese yen, the euro and the British pound are just some of the fiat currencies that are going to be giving stability to Libra’s digital asset.

Nevertheless, there are some questions that regulators have to make before being able to accept Libra on their territories. Mark Carney, the Governor of the Central Bank of England, said that he is open mind about the project but not “open doors” about it.

Russia informed that they are also not going to be legalizing the digital currency in the country and France decided to create a new task force among the G7 members that are going to be discussing different regulations for digital assets and Libra.

Pompliano has also mentioned that he considers that Bitcoin could eventually reach $150,000 in the future. However, he did not make it clear when the virtual currency will be traded around this level. He indeed, explained he is unsure about when or where this market will manifest.

In addition to it, he stated that his funds are 50% in the form of Bitcoin and he takes the digital asset as a store of value. About it, he explained that Bitcoin is a long-term investment and that there are many individuals doing the same with BTC.

Bitcoin is currently traded around $11,991 and it has a market capitalization of $213 billion. In addition to it, the virtual currency experienced a price increase of 1.15% in the last 24 hours, according to data provided by CoinMarketCap.

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