Anthony Pompliano: Wall Street Is “Totally Underestimating” The Power Of Bitcoin (BTC)
Anthony Pompliano Claims Wall Street Biggies Have “Totally Underestimated” the Power Of Bitcoin [BTC]
- Over the past couple of years, the skepticism surrounding BTC’s overall security, stability has been replaced by timely innovation.
- Since the beginning of 2018, a number of novel crypto solutions (such as the lighting network, crypto custodian services, and Bitcoin ETFs) have helped increase the overall adoption of premier crypto-coins all over the world.
Even as China and the United States continue their massive trade-stand off, fears surrounding a global recession have once again gripped the economic industry at large. For example, over the past couple of weeks, Brent Oil and Copper have “lost an average 10 percent of their values”.
However, with that being said, it should be pointed out that despite these recent developments, the crypto market at large has continued to surge — even though Bitcoin recently experienced a massive pushback, with the flagship crypto asset recently sliding down to the $8k mark.
Wall Street And Crypto…
With BTC once again witnessing positive price movement (mainly since the start of the year), more and more Wall Street honchos are beginning to pay more attention to this burgeoning asset class. However, a number of experts still believe that asset managers on Wall St. are being “held back” by what certain crypto influencers are saying about the future of BTC, ETH etc.
For example, popular altcoin analyst, Anthony Pompliano was recently quoted as saying:
“Wall Street is completely underestimating Bitcoin. They don’t recognize the value drivers of network effects, branding, scarcity, computing power, decentralization, etc. The bankers’ lack of understanding is the average citizen’s opportunity.”
However, people like Gabor Gurbacs do not share Pomp’s views and believe that his statements are not factual — but rather based on a series of simplistic assumptions/ generalizations.
Other Key Stats Worth Pointing Out
- As per data released by the Chicago Mercantile Exchange, the global Bitcoin futures trading volume recently surged past the 112,700 BTC mark
- This amount when converted to fiat exceeds the combined monetary volume of the top-ten exchanges present in the market today.
- Most of the concerns cited by Wall Street investors in regards to the crypto industry are related to the volatile nature and overall usability quotient of altcoins such as BCH, BTC, ETH, TRX, EOS, XRP etc.
In closing out this piece, we need to point to point out that ever since issues related to excessive energy consumption (associated with BTC mining) were successfully addressed recently, many people now expect the premier digital currency to go on another massive bull run in the coming few months.