|Nov 24, 2018 11:10 PM||By: Jinia Shawdagor | 1462 Views|
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 change the historical outlook or the long-term outlook."
When asked about the long-term outlook for bitcoin, Pompliano explains that "we have a profound 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."
Pompliano understands that the 10-year-old asset class is still in its infancy, with direct investors procuring up much of the current volume, he asserts "there have been very few institutional investors in this time pre-2018."
Pompliano proceeds to support bitcoin in the extended term stating "The work done today is going to lay the foundation for the price movements moving ahead over the next 2-3 years."