Founder of Morgan Creek: Bitcoin will become the global reserve currency

Morgan Creek founder Anthony Pompliano said: "Bitcoin will become the global reserve currency. That's why we all enter the market. Any theory of bearishness is not interesting." The standard argument for bitcoin is that Digital assets are still in their infancy, and Bitcoin's timeframe is still much shorter than mainstream assets such as gold, funds and real estate. The total cryptocurrency market is only nearly $200 billion, which is insignificant compared to the huge market capitalization of trillions of dollars in other industries. Gold, with a market capitalization of $7.5 trillion, is Bitcoin's biggest competitor. Because of the integration of gold with other assets, its dominant position cannot be easily overturned, but there is a correlation between the two. According to the Odaily Planet Daily, eToro senior market analyst Mati Greenspan said that the price changes between Bitcoin and gold in June were very similar, and the correlation between the two is now at its highest level since 2016. Although the correlation is still quite small, Bitcoin seems to be more integrated with other financial markets and is beginning to respond to external factors.