Crypto veteran and Morgan Creek Digital co-founder Anthony Pompliano highlights the greatest risk to Bitcoin.
In one new episode from The Best Business Show, Bitcoin bulls suspected a long-term bear fall for the leading cryptocurrency.
“Contrary to what many Bitcoin proponents believe, Bitcoin is not going to become a currency and will therefore significantly hamper this type of deterministic market.
First, it can grow like gold, essentially as a store of value. It’s not really used for everyday shopping, so there could be a lot of upside, but limited bull run. “
Pomp also highlighted a number of factors that he believes could have undesirable effects on Bitcoin’s growth.
“The second thing is that at some point Satoshi’s identity will be revealed and known, but if it is a bad person it will have a negative impact on Bitcoin.
The next is that no one is using it for specific cases like cross-border payments or anything else. It’s slow. It is expensive. All of these are technical problems.
Then there is an argument that the government will withhold it in the future. They will regulate, tax, hinder or ban it. They will do all of that. “
But among all the problems, the analyst says, there is one particular risk that could undermine the integrity of the Bitcoin network.
“I think the best argument anyone can make, and what I think is the biggest risk to Bitcoin – it really annoys the critics because there is nothing out of the ordinary about it. .
There is still a development process. There’s still an upgrade in Bitcoin and it’s extremely methodical, lots of security checks … But technically there could be a bug in the code that was introduced. “
Despite the presence of various risk factors, Pomp said that Bitcoin remains an attractive asset.
“The reason Bitcoin is so attractive is because I really don’t have to have the most profitable asset. I am not greedy. I want something that is economically viable, but I also know it will be another 50 years. “
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