Anthony Pompliano is the founder of DigaForce. He is a popular social media strategist and co-owns Morgan Creek Digital Assets with Jason Williams.
He has worked with Facebook and SnapChat’s growth team in 2014 and 2015 respectively. The famous influencer and asset manager made a shocking prediction about Bitcoin on Monday.
“In August of last year I predicted bitcoin would go down to $3,000 before returning to $10,000. It essentially did that. Now I think it’s going to $100,000, but ….. there will be more volatility: There will be parabolic runs like we saw in June and then there will be 20-30% drawdowns from that. Along the way a lot of people will call the top at these local highs — they’ll be incorrect.”
In spite of this, Pomp discussed investment strategies in an interview with Cointelegraph on Friday.
He explained why Bitcoin will survive persecutions from fiat currencies.
According to Pompliano, Bitcoin introduced itself into the financial world with a defensive mindset which has made it stable over the years. This, he noted, will set the stage for Bitcoin’s offensive dominance which could make the foremost cryptocurrency the world’s global reserve currency.
“Its defense-first approach actually leads to a great offense and drastically increases the probability that Bitcoin will one day be the global reserve currency of the world.”
The asset manager explained why half of his wealth is currently invested in Bitcoin. He equally described investment in digital currency as a form of diversification.
“I would make the argument that having 100% exposure to fiat currencies is a really bad idea. Right? Because if one of those fiat currencies that you have 100% of your wealth in either hyperinflates or fails, you’ve got a lot of problems.” Pompliano said.
Bitcoin currently hovers around $11000. Pompliano believes that the introduction of Facebook’s Libra is a good sign. Even though the entry of Libra was prevented by the US, pomp says it will give Bitcoin the awareness it needs to reach $100,000 before 2021.