Founder of Professional Capital Management Anthony Pompliano has recently commented on the Bitcoin Vs Dollar debate. In a recent interview, he lauded BTC, saying that the fiat currencies are likely more volatile than BTC. Besides, Pompliano has come up with a strong defense for BTC, while highlighting the diminishing purchasing power over time.

Anthony Pompliano Shares Perspective On Bitcoin Vs Dollar Debate

In a recent FOX interview, Anthony Pompliano sparked debate on the Bitcoin vs Dollar. He believes that Wall Street is overcomplicating BTC and failing to see its core value. In his view, crypto simplifies timeless investment principles.

He said that Wall Street likes complex things, but Bitcoin only requires understanding scarcity. He pointed out that there will only ever be 21 million BTC, making it a scarce asset, unlike fiat currencies, which governments can continue printing at will.

However, this comes amid growing institutional interest in BTC. For instance, the US Spot Bitcoin ETF has recorded a robust influx this week, aiding in a rally in the flagship crypto’s price.

Meanwhile, Pompliano went on to explain that traditional investors are often distracted by complex financial products, such as trading and leverage. In contrast, those who have simply bought and held BTC over the years have seen the best returns.

According to Pompliano, this simplicity is the crypto’s true strength. It offers long-term appreciation, which is a principle investors have relied on for centuries. Besides, Pompliano dismissed the argument that BTC volatility makes it less viable as an investment.

Is BTC A Long-Term Hedge Asset?

Amid the Bitcoin Vs Dollar debate, Anthony Pompliano argued that over the long term, BTC value steadily increases, unlike the US dollar, which loses purchasing power over time. He highlighted that the dollar has lost 50% of its purchasing power in the last 30 years, meaning that fiat currency holders are on the losing side of volatility.

In addition, Pompliano also compared the price of real estate in Bitcoin over the years to demonstrate the crypto’s growth potential. In 2016, the average median home in America cost 664 BTC, he said. Today, that same house costs just 6 BTC, a staggering 99% reduction in price when measured in BTC.

Meanwhile, he explained that if someone had invested $5,000 in BTC in 2016, they could now afford to buy a house with that investment. This comparison highlights the crypto’s long-term stability and purchasing power, which Pompliano believes outperforms fiat currencies.

He emphasized that while the dollar’s purchasing power is shrinking, BTC has become an effective store of value and hedge against inflation.

The post Bitcoin Vs Dollar: Anthony Pompliano Explains Why BTC Is Better Than Fiat Currencies appeared first on CoinGape.

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Filed under: News - @ October 20, 2024 2:30 am