Bitcoin Becomes Essential For 1 Billion People In India And Hong Kong
Anthony Pompliano delivers some pretty interesting new regarding Bitcoin.
At the moment, the most important digital asset is in the middle of a correction, but this is not enough to stop optimistic predictions from appearing.
Bitcoin’s importance is on the rise
The anti-government protests are still breaking out all over the world and for instance, ATMs in Hong Kong are reportedly running out of cash while thousands of bank accounts are being frozen in India due to the following reason according to the online publication the Daily Hodl:
“a scandal that involves the country’s PMC Bank, the notion of a deflationary and censorship-resistant cryptocurrency defined by math will begin to have a gravitational pull.”
The online publication says the info comes from Morgan Creek Digital co-founder Anthony “Pomp” Pompliano.
He said, “I ultimately believe that people are going to opt for something that is not manipulatable, is not seizable, is not censorable, etc. And so I think people are going to continue – slow at first – but over time, more and more people will choose a currency that government does not control.”
Bitcoin is different things to different people.
When you’re worried about your assets being seized or becoming inaccessible to you, Bitcoin’s non-seizability becomes very attractive.
This aspect of Bitcoin just became important for 1+ billion people in India & Hong Kong. pic.twitter.com/nLLaUlRpBz
— Pomp 🌪 (@APompliano) October 6, 2019
Pompliano continued and explained that “There’s a whole bunch of different value props that Bitcoin brings to the table. Part of the beauty of Bitcoin is that it’s valuable to different people for different reasons.”
Pompliano concluded by saying that “If you’re worried about living in an area where you’re getting censored, the non-censorability becomes very attractive.”
People had positive feedback on what Pompliano had said.
Someone posted: “I can say bitcoin helped me when my passport was expired and no access to the banking system, that moment, I realized the superpower of decentralized systems.”
Another follower wrote: “Pomp this is one of the biggest reasons why everyone should have some Bitcoin!! Most people don’t know that government seizure has happened even here in the USA!! They are uninformed about the USA making it illegal to hoard gold. Exec order 6102 April 5, 1933. Issued by FDR.”
Head over to the Daily Hodl’s original article to find out more about the subject.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.