Bitcoin will soon be in the portfolio of each institutional investor

Anthony Pompliano, an ardent bitcoin enthusiast and cryptocurrency supporter, said during an interview on CNBC that bitcoin will eventually become the main one and will be in the portfolio of every institutional investor.

Regulators hold back the spread of bitcoin

Anthony Pompliano is a co-founder and partner at Morgan Creek Digital, an SEC-approved cryptographic institution that provides investment advice and cryptocurrency management services to institutional clients.

The expert shared his views on the most important issues about the introduction of bitcoin into the global financial system and the disadvantages of decentralized cryptocurrency regulation. According to Pompliano, the widespread adoption of bitcoin needs to be associated with a "weakening of regulation." Government agencies and global regulators should find a way to coexist with bitcoins, and not be limited to trying to "strangle innovative technology."

Pompliano believes that at present, only a few people in the world have enough information about the merits of bitcoin. However, cryptocurrencies have good prospects.

“In less than a decade of its existence, a decentralized digital currency has crossed the narrow borders of the Internet and has already caused heated discussions on the G-7 … Every week, more and more institutions build their business around bitcoin and cryptocurrencies in general. Whether it’s an infrastructure related to the speed of hashing, mining, support, or a security network. Bitcoin will soon be in the portfolio of every institutional investor. ”

Regarding the forecast on the price of bitcoin at 55 thousand dollars by May 2020, given earlier, Pompliano noted that the development of the market is artificially slowed down and regulators are holding back the adoption of bitcoin. Naturally, this affects the price. However, this is a natural crisis of growth for all young technologies.

Recall, the head of Circle, Jeremy Aller, recently assured that the high volatility of bitcoin in recent weeks has not affected the growth in popularity of bitcoin.

Publication date 08/21/2019
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