Pompliano on CNN -"fundamentals haven't changed, don't be surprised if we see $3K"

24 Nov, 2018
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Pompliano on CNN -fundamentals haven't changed, don't be surprised if we see $3K

Bitcoin maximalist and founder of Morgan Creek Digital Assets, Anthony Pompliano recent took to CNN to give his two cents on the recent activity on Bitcoin.

In the recent CNN interview, Pompliano gives his outlook on the current situation facing bitcoin. With the majority of mainstream media calling bitcoin and cryptocurrencies a bubble and potentially the end of it all, Pompliano admits that "a lot of people are focused on the price, but the important thing to remember is that fundamentals haven't changed". 

Pompliano admits that Bitcoin could potentially go down to $3500-$3000 in this bear market, stating "I don't think people should be surprised if that happens, but doesn't really change the historical outlook or the long term outlook"

When asked about the long term outlook for bitcoin, Pompliano explains that "we have very deep conviction on a long term basis". Pompliano compares the current bitcoin landscape to that of Mastercard and concludes that "from a value perspective, it's right there on par with Mastercard."

Recap: Could we really compare Bitcoin to MasterCard?

Pompliano believes that the 10 year old asset class is still in it's infancy, with retail investors taking up much of the current volume, he states "there has been very few institutional investors in this space pre-2018"

Pompliano continues to support bitcoin in the long term stating "The work done today is going to lay the groundwork for the price movements moving forward over the next 2-3 years."

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