September 18, 2020

Bitcoin Rises To $ 400,000. Morgan Creek Co-Founder Explained Why

Anthony Pompliano compared the first cryptocurrency with gold and told why it will overtake precious metal by capitalization.

Bitcoin price will rise to $ 400,000, possibly to$ 450,000, Morgan Creek Digital co-founder Anthony Pompliano said during an interview with What Bitcoin Did podcast host Peter McCormack. The businessman explained that the first cryptocurrency is a digital version of gold, and digitized projects always conquer a larger market than their traditional counterparts.

“Tell me a business that was analog anddigitized, and the digital version eventually gave way to the analog one. This does not happen ... Capitalization of the gold market is about $ 8 trillion. If this amount is converted to bitcoin, then its rate will be $ 400,000 or $ 450,000. Do you think bitcoin will equal gold? Me not. BTC will capture an even larger market, ”Pompliano predicted.

He added that Bitcoin is a revolution in the fieldtechnology like Airbnb and Uber once were. The main digital asset will someday become the largest currency in terms of capitalization, and no one can control it.

August 3 billionaire and founder of HeisenbergCapital Max Kaiser said that the bitcoin rate will easily overcome the $ 20,000 mark and then continue to move to $ 28,000. After such a jump, the cryptocurrency price will correct, but then go into a long-term growth phase to $ 100,000.