Anthony Pompiano: Every central bank will buy Bitcoin
The expectation of an impending financial downturn prompts central banks to look for alternative assets to hedge risks. According to the founder of the Morgan Creek Digital cryptocurrency fund, Anthony Pompliano, Bitcoin can become one of the most obvious assets for this purpose.
Pompiano expressed his opinion on Twitter, commenting on media reports about cental banks' buying gold for $18.7 billion in H1 2019. An investment in gold is one of the stages of diversifying the reserves of a central bank and reducing the role of the US dollar in bank stocks amid risks associated with the growing tension in US trade relations with China and Europe.
"Central banks bought more than $15 billion of gold in the first 6 months of the year. They are trying to hedge their risk to the US dollar. Wait till they find out about the non-correlated, asymmetric upside profile of Bitcoin. Every central bank will be buying Bitcoin," wrote Pompiano.
The forecast by one of the most ardent fans of Bitcoin was voiced literally the next day after he had a discussion with gold supporter Peter Schiff.
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