Published
4 years ago on
January 07, 2020
- Bitcoin has always been at the forefront of the market and the guide that writes the path for other cryptocurrencies in the market.
- Anthony Pompliano took part in the Off the Chain podcast where he spoke on “why the price of Bitcoin changes at all.”
As most of us will already know, Bitcoin has always been at the forefront of the market and the guide that writes the path for other cryptocurrencies in the market, in most cases.
The flagship cryptocurrency had a lot of eyes on it during its 2017 bull run. It’s been two years since the infamous bull run and many have speculated the reason behind such a random price surge and the following price slump.
The well-known crypto figure, Anthony Pompliano took part in the Off the Chain podcast with Darius Dale recently where he spoke on “why the price of Bitcoin changes at all.”
Pomp further stated that there were several “relatively elementary simplistic things.” as per AMBCrypto, the entrepreneur then claimed that there are two key things to consider. The first being that the price is a function of supply and demand and the second being dependent on the “you price the asset in.”
He adds:
“So the whole idea of amazon stock is it’s not priced in one amazon stock for one amazon stock, we priced in dollar, so the dollar value is moving. Same way with Bitcoin. The dollar is priced in dollars, so, you end up with one dollar equals one dollar, inflation is kind of the hit. So that purchasing power is changing, but one dollar is one dollar.”
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