Anthony Pompliano Says Why Bitcoin Will Be The New Global Reserve Currency Of The World
Bitcoin Will Be The New Global Reserve Currency Of The World, Anthony Pompliano Affirms
2019 has started some time ago and there is a clear trend forming now: institutional investors are slowly but surely entering the Bitcoin world. Despite the bearish trend, the market is starting to look at Bitcoin as a way to store value more seriously.
Now, the founder of Morgan Creek Digital, Anthony Pompliano, has tweeted about Bitcoin adoption. He said that sovereign nations are already settling their transactions using Bitcoin, which is the first step for Bitcoin to become a global reserve currency “right before our eyes”.
Pompliano has talked about it after Argentina and Paraguay used Bitcoin to transact for the first time. The cross-border transactions were made to buy pesticides and fumigation accessories which were worth $7,1000 USD. Paraguay bought the products from Argentina using Bitcoin. Then, the money was converted into Argentinian peso.
The transaction was made with help from Bitex. A local financial services provider which was chosen to help the companies in this innovative enterprise.
Manuel Beaudroit, the Chief Marketing Officer (CMO) of Bitex, has affirmed that the company’s main goal is to make exports that have cross-border transactions easier and more efficient. The company is part of a state-backed program called the Exporta Simple, which was created in order to export goods and services for “low values” of less than $15,000 USD.
Not Only South America Is Using Bitcoin For Cross-Border Transactions
Spain is also making cross-border payments with cryptos. The second largest bank of the country, BBVA, has decided to block several accounts of Chinese people recently and they decided to use Bitcoin in order to circumvent the block.
The Chinese Association of Spain has reported that at least 5,000 people had their accounts blocked by the company, which turned into a major problem that has led many crypto fund managers suggesting that these people should go for Bitcoin and abandon banks, which some of them did.
According to Pompliano, banks are helping Bitcoin adoption to grow without realizing, as they are giving people the exact conditions that they need in order to turn against the banks and use these solutions.
Many other countries in the world are currently using Bitcoin for transactions, so we all may see a future in which it is as easier to use Bitcoin as SWIFT payments. This will be a bright future and more free of banks, that’s a certainty.