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Crypto Expert Anthony Pompliano: People Are Choosing Bitcoin for Obvious Benefits

  • Yuri Molchan
    📰 News

    At a CNBC’s Squawk Box show, Anthony Pompliano says that investors around the world are going into Bitcoin since it has something that conventional assets do not

Crypto Expert Anthony Pompliano: People Are Choosing Bitcoin for Obvious Benefits
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Anthony Pompliano is a partner and a co-founder of the Morgan Creek Digital fund and a prominent crypto investor, as well as a Bitcoin advocate. When often appearing on CNBC’s shows, he explains things to do with Bitcoin and tells a wide audience why BTC is becoming more and more popular with investors.

During the recent Squawk Box show, he explained why the current Bitcoin price is going to keep rising.

At press time, BTC is sitting at the $11,806 mark.

Bitcoin Price 08/06/19
Image by CoinMarketCap

Investors seek to diversify their portfolio

When asked by the host about how long the Bitcoin bullish rally would last, Pompliano, known on Twitter as ‘Pomp’, explained that investors have been seeking assets to hedge their risks against the global economy turmoil.

For over a year, he said, their hedge fund, Morgan Creek Digital, has been seeking such an asset that would protect investors from the uneven performance of traditional indexes, such as S&P 500, NASDAQ, etc, and decided to use Bitcoin.

As per Pompliano, more and more retail and institutional investors are choosing Bitcoin, since it is controlled by software, not people, and cannot be manipulated by regulators or governments.

The community’s reaction

Overall, the crypto community gives ‘Pomp’s’ TV appearance a warm welcome in the comment thread. So it was this time.

However, some Twitter users initiated tiny arguments about what Pompliano said in the interview. One user argued, saying that Bitcoin is vulnerable to hacker attacks.

Another opponent mentioned the recent reports about North Korea stealing BTC and other crypto for its military needs. Pompliano responded to that and said that oppressive regimes use not only crypto but a lot more often they go for fiat currencies to fund their aggressive external policy.

Image by Twitter
Image by Twitter
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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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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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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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