Morgan Creek Digital founder Anthony Pompliano says Bitcoin is the apex predator of the financial markets as he notes that investors are racing into it as a safe-haven asset.
“Listen, Bitcoin is the apex predator of financial markets. You’ve got digital sound money that’s grown at a compound annual growth rate of 200% for a decade. And if you’re sitting there and you manage a treasury, you’ve got cash on your balance sheet, you tell me where else you’re going to put it where you can get that type of growth. 200% compound annual growth rate for a decade, there’s nowhere else they can put it. We’re printing an unprecedented amount of money, and so they’re looking for a safe haven, and Bitcoin is that apex predator that everyone is concluding is the answer.”
Addressing the claim that Bitcoin is manipulated, the Bitcoin bull says that the stock market is actually a prime example of a manipulated market, highlighting the Federal Reserve’s tendency to stimulate it every time it runs out of steam.
“We have a Federal Reserve and elected officials who have outlawed bear markets. If you’re in the stock market and the market starts to correct, they step in and just pump liquidity into the market. This is insane. If you want to talk about a manipulated market, let’s talk about the stock market… We can’t have markets that aren’t allowed to correct. What we’re watching is investors are racing to find an asset where they can go that is an unmanipulated, transparent, programmatic asset. And Bitcoin serves that purpose.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc