- Bitcoin (BTC) bull and Morgan Creek Digital co-founder Anthony Pompliano predicts that Ripple’s success will not affect XRP’s performance.
- Pompliano believes that Bitcoin’s true market capitalization is $150 trillion, almost twice the global money supply.
One of the most recognized personalities in the crypto space, Bitcoin Bull (BTC) and co-founder of Morgan Creek Digital, Anthony Pompliano, made a distinction between the success of the payment solutions company Ripple and the XRP token. Declaring himself a fan of Ripple and its products, the Bitcoin bull also said he is not attracted to XRP. In an episode of his show The “Pomp Podcast”, Pompliano said the following:
I think that XRP as part of the Ripple product, meaning they use it inside the product, I understand why they do that. I see the advantages inside the Ripple ecosystem. What I don’t understand, and I think where I choose to not engage on the XRP side, is I don’t understand why people are buying it, speculating on future price movements.
To me, if Ripple is successful, that doesn’t mean XRP has to be successful…
If you separate XRP and Ripple, Ripple as a software company that wants to build better software for banks, (it is a) no-brainer, makes sense, venture capital bet. I’m jealous I didn’t invest in Ripple in the seed round.
Bitcoin’s market capital will be $150 trillion
Pompliano said that Bitcoin (BTC) is an asset that will succeed or fail catastrophically, with no middle ground. Its success, as legendary investor Jim Roger said, could mean its destruction. Roger recently said that the world’s governments will try to destroy cryptocurrency with false news and through political means, before it can become a bigger threat. In that sense, Pompliano said:
Bitcoin is the most binary things you can find. It is either going to be worth millions of dollars a coin or it’s going to be worth basically nothing.
Pompliano believes that the success and adoption of Bitcoin will make people who adopt it change their conceptions of money and make fiat money obsolete. The co-founder of Morgan Creek Digital believes that the growth potential of Bitcoin (BTC) is generally underestimated. In terms of market capitalization, Pompliano agrees with former Goldman Sachs analyst Murad Mahmudov, and said that Bitcoin will reach $150 trillion:
(…) Bitcoin’s market cap is not comparable to just the global monetary supply at $90 trillion. He thought it was a $150 trillion and how he got there was a lot of the assets that you and I own, we own because we don’t want to hold cash because of inflation.
Just like Uber was a market expanding piece of technology and it wasn’t just against taxis. It ended up like some people don’t own cars. Same thing here. Maybe I don’t put my wealth in store of value assets. I can put that in ‘currency’ because it’s a deflationary type currency.