- The coronavirus sweeps through the world as the markets in the financial sector start to crash and burn.
- Anthony Pompliano is a believer of bitcoin and that it stands to benefit the most during this crisis.
The coronavirus sweeps through the world as the markets in the financial sector start to crash and burn. The co-founder and one of the partners at Morgan Creek Digital, Anthony Pompliano is a believer of bitcoin and that it stands to benefit the most during this crisis. This is because of numerous factors.
In a recent episode of tech with Catalina, the well-known bitcoin Bull shared his views on the state of the economy and how long it will take before a recovery can start taking place.
In his eyes, he believes that the action by the governments all across the world to revive the economy will have a catalectic impact on the price of bitcoin and push it to $100,000 by the end of 2021.
The number of coronavirus cases on a worldwide scale surpassed 2.4 million with many countries all across the world expecting the worst. Pompliano was asked whether he expects the economy to recover and when it should start but he said that it wouldn’t happen any time soon until lockdowns all across the globe are lifted. He further said:
“This is going to be a long road to recovery but I also don’t think the worst is over yet. I actually think that we’re just starting. I think this is going to get a lot worse before it gets better.”
The bitcoin advocates further said that he wouldn’t be shocked if equities fell by double digits from now on. He further said that he can see a chance of 50% of the smaller businesses in the United States not surviving in this crisis. More than 16 million Americans were filed for employment during this troubled time and by the end of the year, Pompliano expects to see this number increase.
“When you start seeing those numbers, there’s no way that you just have that happen and then turn it back on and have a record year next year in terms of all-time highs in the stock markets or anything like that.”