Cryptocurrency expert Anthony Pompliano in an interview with CNBC explained why attractive bitcoin:
“Why have bitcoin, if you hold US dollars? People choose something that is not amenable to manipulation or capture,” says Anthony Pompliano.
Pompliano said in part:
“Bitcoin is not manipulated, not captured, not centralized. Over time people will increasingly choose a currency that is not controlled by the government.”
Pompliano also said that bitcoin can be attractive to people in different countries for different reasons:
- If you live in a country with hyperinflation, the government can’t get to bitcoins and devalue them;
- If you live in a country where the government or someone else is ready to confiscate your currency, then bitcoin is just something that cannot be confiscated or seized;
- If you live in a country where there is strong censorship, the bitcoin can be attractive because of the lack of censorship over him.
Recently there were reports that the Central Bank of Venezuela considers bitcoin and ether as means of replenishing their reserves and as the medium for international transactions. Since last year, Venezuela suffered from hyperinflation and is trying to solve this problem using its own cryptocurrency Petro, supported by oil.
“Bitcoin will coexist with Fiat money.”
When Pompliano asked about the future of bitcoin and Fiat currency, he said that bitcoin, the dollar and other currencies will coexist:
I don’t think bitcoin will destroy all currencies of the world. It would just be another currency that will use part of the population.