Although Bitcoin is struggling to stay above $ 50,000, Morgan Creek Digital co-founder and Pomp Podcast host Anthony Pompliano, popularly known as Pomp, has said that Bitcoin remains the king of crypto assets in terms of prospects may be.
Pompliano made the remarks on December 9th during an interview with Andrew Ross Sorkin, a co-host of CNBC's Squawk Box.
While making the claim, Pompliano further stated that Bitcoin has the best fundamentals and that the majority of Bitcoin investments are profitable.
During the interview, Pomp said:
"If you look at how many people are holding Bitcoin, they are in profit, that is, wherever they bought Bitcoin, what the price was compared to now, 89-90% of the people are in profit … While we have undisciplined money – and have tax policy, I don't sell my Bitcoin. There are millions of other people who are not selling their Bitcoin and the demand continues to grow. "
The crypto investor went on to say that unlike Bitcoin and other cryptocurrencies, the U.S. dollar must rise over time to please everyone.
When bitcoin moves, the rest of the crypto market moves
He also quickly realized that everything else, especially in the crypto market, was moving along with the Bitcoin price. When bitcoin falls, so does most cryptocurrencies, and when it rises, so does most coins.
He explained:
“I think Bitcoin is still the king by far. When it moves, everything else somehow moves with it. When bitcoin goes down, other things tend to move. That changes a little, but I think it's still mostly true. "
Although investors are moving away from Bitcoin at times, especially when it is registering massive downward movements, they ultimately return to invest in BTC, according to the investor. He also stressed that the crypto market is also maturing and we would see investors care more about less volatile assets compared to extremely volatile ones.
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