Bitcoin Allows 50% of Global Population to Avoid Negative Effects of Inflation, Says Crypto Expert Anthony Pompliano

Libra Coin News
Thu, 08/22/2019 - 12:34
Yuri Molchan
Crypto expert who constantly promotes Bitcoin as a reliable digital asset and a must for all institutional investors publishes another disputable tweet about BTC
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In his recent tweet, the co-founder of the Morgan Creek Digital VC fund and the author of a crypto podcast Anthony Pompliano stated that Bitcoin allows half of the world’s population to avoid wealth inequality which follows inflation of fiat currencies in each particular country or when it comes to the USD. 

The latter is currently the reserve currency for countries other than the USA and is often used as a store of value by those who are familiar with only the very basics of investment.

However, some in the crypto community disagree, providing counter arguments.

21 mln BTC for 7.7 bln people

A Twitter user @ShipRektLLC points out that the majority of circulating Bitcoin is concentrated in the hands of few people, meaning the so called whales. The same situation is with Bitcoin mining, where the majority of largest pools are also owned by few companies.

Besides, the thought suggested by Pompliano sounds like a Utopia since the total supply of Bitcoin is only 21 mln, whereas the world’s population as of 2019 totals around 7.7 billion people. The BTC supply is nowhere near enough to let each person on earth own even half of a single Bitcoin.

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‘Bitcoin will become a must for every institutional investor’

In another recent tweet, Pompliano confidently stated that Bitcoin would soon become part of every institutional investor’s portfolio since interest to BTC is constantly growing.

Prior to that, on a CNBC’s show, the expert said that these days it is irresponsible for an institutional investment firm not to enter Bitcoin.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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