Altcoin News: Pompliano: Central Banks Will Hedge the Risks of the Dollar with Bitcoin

August 2, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

All central banks around the world will buy Bitcoin to hedge against US dollar risks, said Anthony Pompliano, co-founder of Morgan Creek Digital asset management company.

Earlier, The Financial Times reported that global central banks spent a record $15.7 billion to buy gold in the first half of the year, thus seeking to diversify their reserves against the backdrop of a global trade conflict. According to the publication, for a specified period, central banks accounted for almost one-sixth of the demand for gold.

While the World Gold Council is predicting a rise in geopolitical uncertainty that will force central banks to continue purchasing precious metals, Pompliano reminds of the existence of a means of an accumulation from the world of digital currencies.

“Wait until they learn about the non-correlating, asymmetrically upward profile of Bitcoin. Every central bank will want to buy bitcoin,” he writes.

Earlier, in a conversation with a well-known gold investment advocate and cryptocurrency opponent Peter Schiff, Pompliano said that the presence of Bitcoin in the investment portfolio does not exclude the possibility of including more traditional assets in it.

At the end of July, Pompliano expressed the view that the policies of the European Central Bank could whip up the rise in Bitcoin.