Anthony Pompliano on Trump, Powell: "Yesterday was such a big day."

12 Jul, 2019
by David Borman
Anthony Pompliano on Trump, Powell: Yesterday was such a big day.

Today Anthony Pompliano went on CNBC's Squawk Box to discuss the recent revelations that the US Federal Reserve Chairman Jerome Powell referred to Bitcoin as a store of value, and that President Donald Trump is "not a fan" of cryptocurrency. In Pompliano's view, the fact leaders are even talking about it is what is important.

Pompliano opens by stating that gold is thousands of years old and a multi-trillion dollar asset, and to have it compared to Bitcoin by the Federal Reserve Chairman is monumentous. He then says that having the President chime in on the same day is even more impressive:

"I think that what we're seeing is a shift in what we trust. Do we trust the humans or do we trust the algorithm?"

The idea is that even the fact that government officials and leaders are talking about crypto at all is an amazing feat for an asset that is only about 10 years old. Positive or negative, it means people are beginning to take Bitcoin seriously.

There were mixed responses on twitter, with some supporting this dialogue:

While others feel that Bitcoin is still inferior to gold:

Either way, at least the topic is coming up more frequently. Will the US finally take an official stance on crypto soon? Stick with Chepicap for all updates.

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