Anthony Pompiano: Every central bank will buy Bitcoin 

Posted 02 August, 2019

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.

Previous story

02 August, 2019 12:38

← New York Attorney General doubts data request to be too expensive-to-satisfy for Bitfinex

The stand-off between Bitfinex-Tether and New York Attorney General is running on. This time, Bitfinex and Tether complained that they had already spent about half a million dollars for collecting the documents required by the plaintiff. The New York Attorney General believes that actions hardly overloaded the companies.

New York Attorney General doubts data request to be too expensive-to-satisfy for Bitfinex

Next story

02 August, 2019 10:51

US dollar down against Japanese yen on stronger demand for safe havens →

The US dollar has lost grounds vs the Japanese yen due to better demand for safe havens amid concerns about the aggravation of the ongoing trade conflict. The fears followed the recent reports about Washington's plans to launch new import duties.

US dollar down against Japanese yen on stronger demand for safe havens
Write a comment
 
Prove you’re not a bot + 6 = 24