The Bitcoin price may be taking it on the chin, but it’s looking a lot better than the tanking stock market. Bitcoin’s declines also didn’t stop Morgan Creek Digital Partner Anthony Pompliano from singing cryptocurrency’s praises to the masses. He visited CNN’s Julia Chatterley at the New York Stock Exchange for the segment.

From central bank-backed digital currencies to Bitcoin mining’s power consumption to Warren Buffett’s latest cryptocurrency controversy, Pompliano touched on it all, giving mainstream viewers a glimpse into a decentralized future. And while Bitcoin may still have some issues to work through, Pomp is convinced that it is not suffering from a PR problem.

Let’s start with the markets. If you ask Pomp, as he’s known, bitcoin is doing exactly what it was designed to do during these times of global turmoil, and that’s preserving wealth. While you might expect the cryptocurrency market to rally as a safe-haven asset should while the threat of the coronavirus epidemic rattles equities, the fact that it is basically holding steady says a lot, according to Pomp:

“Bitcoin over a long period of time has been a non-correlated asset….When we see times of global instability, geopolitical uncertainty, things like coronavirus, etc., stocks, bonds, gold, etc. kind of do what you expect them to do. Bitcoin doesn’t do that. And so the fact that it doesn’t go up is not bad. It’s a non-correlated asset so it’s doing exactly what it’s supposed to do for your portfolio.”

Incidentally, gold, Bitcoin’s rival store-of-value asset, is similarly trading in the red today, so investors are bailing all over the place. [Gold Price]

Bitcoin Mining and Power Consumption

While price is where retail and institutional investors may focus most, it’s not the only characteristic of Bitcoin.