Anthony Pompliano Considers Libra Is Going To Help Bitcoin Adoption And Crypto’s Presence

Facebook has recently launched a new digital currency called Libra. The cryptocurrency is expected to be used as a means of payment and to make transactions. However, there were several analysts suggesting that the virtual currency could have negative effects on Bitcoin (BTC). Anthony Pompliano, the co-founder of Morgan Creek Digital, said that Libra is positive for Bitcoin and the crypto space.

Is Libra Positive For Bitcoin?

In a recent blog post released by Anthony Pompliano, he explains why the new digital currency released by Facebook is going to have a positive impact on the crypto market.

He compared the two virtual currencies as if they were two different restaurants. Bitcoin is the restaurant A and Libra the restaurant B. Pompliano says that the restaurant B is going to bring more restaurant-goers there which means there are going to be more crypto users in general.

Introducing the Token Density Theory: Why Libra, and tokens like it, are incredibly positive for Bitcoin

Let me know what you think! https://t.co/8kMKQiyvmK

— Pomp 🌪 (@APompliano) June 20, 2019

About it, Pompliano commented:

“In the restaurant example, more and more people flock to the intersection when they are hungry because they know there are multiple options available for food. The intersection eventually becomes known as the location where ‘all the restaurants are.”

He went on saying that the same thing happens with tokens. If a new token is desired by consumers and is introduced to the market, it will help it grow. This is why he considers that with the new Libra cryptocurrency there will be more people interested in participating in the whole crypto market.

Libra is expected to be launched next year for WhatsApp and Facebook Messenger users through an application called Calibra. Users will have the possibility to move funds, pay for goods and services and more.

There are also other experts that consider that the new digital currency launched by Facebook. David Marcus, the co-creator of Libra said that there are several individuals that want to pit Libra vs Bitcoin when these two are not in the same category. He indeed mentioned that Bitcoin is a de-correlated investment asset and Libra is designed to be a stable medium of exchange.

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

— David Marcus (@davidmarcus) June 19, 2019