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"Hard not to be incredibly optimistic"


Morgan Creek co-founder, partner and big Bitcoin bull Anthony Pompliano says it's hard not to be optimistic about Bitcoin considering the ongoing chaos in the world. Pompliano made the statement Due to continued tension regarding the fiat currency, especially the US dollar, which has been regarded as a reserve currency for centuries.

Several questions are being raised about the future of the USD due to the indiscriminate printing of the currency by the Federal Reserve. So far this year, the Fed has printed billions of dollars for several reasons, one of which is COVID-19's stimulus, both for businesses and for individual citizens, to survive the economic effects of the pandemic. This has sparked concern among financial experts, as Minneapolis Federal Reserve Bank President Neel Kashkari said in March that the Federal Reserve had an "infinite amount of cash."

Investors rush to Bitcoin to avoid inflation

With the Federal Reserve showing its willingness to print the USD infinitely, financial experts expect high inflation caused by excess cash that will flood the economy. Therefore, investors are looking for an alternative reserve currency, and so far the arrow points to Bitcoin. This year alone, various institutional investors have rushed into the Bitcoin space, according to hedge fund manager. Michael Novogratz.

Bitcoin's leading institutional investment platform, Grayscale has also been buying Bitcoin like never before, suggesting a growing demand for institutional clients. The platform currently has $ 4.1 billion in assets under investment (AUM).

This growing interest and demand is likely to eventually drive a bull market for the asset. That is why bitcoin's bullish sentiments are also on the rise and incredibly positive performance is expected, although the current price performance is not very attractive.

A better hedge than gold?

There is a long-standing argument about whether Bitcoin is a better hedge against inflation than gold. So far, Bitcoin is one of the best performing assets in 2020 and you can do even better.

However, gold is said to have an intrinsic value unlike Bitcoin and is more stable. The recent surge in interest in Bitcoin may propel it to largely beat gold in the near future, according to Bitcoin supporters who are asking investors to purchase the asset instead of gold to possibly win from the next bull market that experts say which will be tremendous.

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