INTERVIEW – 'Bitcoin Bull' Pomp predicts price of BTC for 2019 | Cryptocurrency News | Chepicap



thank Anthony pompano from Morgan Creek Dietl acid for joining Topeka and other media and cryptocurrency enthusiasts and local actors from the space in the house of Nakamoto in the center of Amsterdam thank you for having me well first question I have for you it's one that you've heard it before I guess you're a bit going Bullard I'm always a bit coin Bowl in in a long term I think that we probably haven't seen the bottom of the bear market and we're likely to go sideways for much of 2019 so I kind of cautiously optimistic right I guess is how I would put myself and over the long term I believe more today than I've ever believed but let's say that you wouldn't be surprised if Bitcoin closed a year in a similar price range to what it started yeah I think that you know anywhere between that two thousand four thousand dollar price kind of trading it you know back and forth in there and there makes a lot of sense and and again you know I don't know maybe I'm 50 percent confident that it'll close under five thousand dollar price point by the end of the year we build a building going on in the space right now let's fast forward to 2030 20 years after nakamoto's whitepaper how will things be going then for Bitcoin and crypto every day that passes I think is a is a day closer to Bitcoin becoming a stronger currency in the world and I used this visual where if you rank all of the currencies in the world you start with the strongest to the top and the weakest at the bottom a US dollar euro etc at the top Bitcoin wasn't on that list 11 years ago than it was at the very bottom of the list then it was second to the bottom then the third to the bottom in the fourth to the bottom right and it's slowly walking itself up that list and I think the big question is how high can it go and list does it top out at a hundred at the top 50 top ten could it be number one right I tend to have a higher probability that it could become the global reserve currency than most and really my position there is not so much just my belief in Bitcoin and the benefits it brings in the technology but it's also in the continuation of the legacy financial system to keep screwing up right so you know BBVA the this Spanish Bank recently froze a bunch of Chinese citizens bank accounts in Spain JP Morgan announces a stable coin and within 48 hours people can access their online banking right Wells Fargo the other day for almost 48 hours people couldn't withdraw money and then when they could they were limited to certain small amounts right all of these things are in the developed world doing the doing a benefit to Bitcoin right there it's actually driving awareness it's driving some adoption and so that's happening in the developed world imagine what's happening in the developing world right and so as long as the legacy system continues to mess up and and kind of you know present an opportunity for something better to take hold I think that works in bitcoins favor what would you say about the continuously increasing all-time high Bitcoin purchase numbers that we're getting now from South America countries like Venezuela but not only Venezuela also Colombia Peru and so on they keep on breaking their their Bitcoin parties all-time highs you know do you think that is were the next wave of adoption is going to come from from developing countries Bitcoin is better money and I think the market is showing that in areas where the legacy fiat currency is failing right people are electing to move their money and their wealth out of that currency and move it into Bitcoin there will be plenty of people who argue you know all the different data points etc but it's very hard to argue against the trend right and so that what magnitude is it happening can be debated but the trend is definitely that people are opting out of that legacy system and opting into this new digital decentralized system and anytime you get an open network that kind of has this escape velocity it's damn near impossible to stop right so I think that I think bitcoins got a shot to continue to grow the look at your cult status or your the growth of your brand and the credibility around it dude you're kind of generally in a complex position while fighting the order and remaining positive about the space in a moment where many people are turning to the negativity what is it what is it key for for for these growth of your own brand besides of course putting all the I think I have a unnatural comfort being uncomfortable and I am perfectly fine being wrong in public right so whereas a lot of people allow their emotions to dictate their decision-making in their communication I have a thesis I've done the work to get there and understand why I believe that what the risk so that are what the benefits are etcetera and I have seen no reason to change that thesis right price to me is just a distraction on the way up and on the way down right the the underlying fundamentals of the asset and the industry are much more important and not only have they not declined they actually improved right so hence my even more bullishness today than at any other time right and what I remind most investors is the key to investing is to do something different than everybody else and be right right if you do what everyone else is doing they just can get what everybody else gets if you do something different and you're wrong then you're an idiot right and everyone else was right but if you do something different and you're right that's where you can make a lot of money and so right now in a bear market I think bitcoins probably at that point where a lot of people don't believe in it right and so the people who do and who act accordingly I think will have an advantage over a long period of time could you have mentioned a couple of pioneers that you think are doing a lot for this pace right now and will you go do mention at least one that he's not so well known or racing on mainstream or established yeah so there's a whole bunch I mean look satoshi nakamoto obviously is is kind of the most important person or group by far I think you know many of the names that people know right everyone from the Jeff Karthik's to the Roger Bears to you know everyone else that was in those early days you know how Finney excetera all of those people are incredibly important and whether you agree with them today or not on the positions they got us here right so I think that gets forgotten a lot of times and then the other thing is I think that there are a number of people that are doing really important work to gain institutional adoption one of them I'll call out is the team at bitwise so hunter Horsley Teddy and the team they are doing the work to go educate institutions they're doing the work to get Bitcoin ETF approved that they're just kind of got their hands on a lot of different things and I think doing it the right way so much so that we invested right but but I think that's an example of a group that people kind of heard of bitwise before but they don't really understand how much work is going into it how important that work is and we're likely to see in the next kind of three to four years a lot of that work pay off you know kind of over time what are you thoughts about the latest development in violence behind Chuck being so see sense yeah look seesee I've gotten an ohm you know over some time now I'm incredibly impressed by him he is able to build this company in less than 18 months into you know 400 employees I think they're like 450 million dollars in profit last year and the guy is just an executor right he has an idea and he executes on it there's plenty of people who think you know they have nefarious strategies that they're you know kind of ducking regulation doing all these different things I've gotten to know him like I truly believe that people misunderstand him and what they're doing he is trying to follow the rules in the countries in which he operates and then there's times where he thinks the rules are wrong right and and he speaks up about that and wants to work with regulators to to fix that and so you know look finances from a financial standpoint an incredible company he's the leader and I think that you know for Carlos what you think of him you can't take that away from last question is regarding the latest news that we've been hearing this week first of first of them came from from Morgan Creek that you know evil assets when you secured a venture fund with public pensions or 40 million as you tweet it we also got news about the launch of a stable coin by JP Morgan Chase what difference you see between both types of institutional presence of approach to cryptocurrency Spencer yes so when we talk about institutional investors I don't include the banks right I talk about family office or 9ml so this really it's endowments pensions foundations and sovereign wealth funds these are you know institutions or organizations that have permanent capital they're very long-term thinkers they've proven over time to have some of the best returns you know as a kind of class of institutions and I think they're looking to invest right they're not going to build tools internally except they allocate capital the banks are taking the opposite approach they're all trying to build things and the most important principle that the banks are missing right now is they are trying to take a centralized approach to a decentralized world it's not gonna work right and when I say it's not gonna work doesn't mean that they won't find some short-term early success in nuanced cases it means that over a long period of time that is the losing strategy right and so if I was them I would be buying up as much talent as I could I would be telling my clients to buy some of these assets I would start adopting some of the s that's myself on my balance sheet I would start trying to own the narrative of we are very friendly to the decentralized world and try to figure out what's the business model in that world right how can I as a regulated legacy financial institution participate in let's say a Bitcoin world right what can I do to make money and continue to drive value for my shareholders rather than say Bitcoin it's but you know that's not really real we're gonna create our own and now that it's centralized and regulated this is better than Bitcoin probably not the right strategy thank you so much again for taking the time to answer us and please like and subscribe

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