Anthony “Pomp” Pompliano, the founder and partner at Morgan Creek Digital Assets, an investment company that provides access to crypto assets for institutional investors, recently said that bitcoin (BTC) is a “non-correlated asset.”
Pompliano said that the price of Bitcoin could fall as low as below $3,000, which, given that the current price stands at $3,741, would signify around a 20% decrease.
The founder said this in a recent interview with CNBC on December 26th. As an active commentator on the cryptocurrency market on his social media accounts, this was one of many such predictions that he has made in the past.
According to Pomp, Bitcoin to hit $50,000 or $100,000 are not impossible and that it would happen eventually in the longer time frame. According to him, nobody knows when it would happen, it could happen in three years or five years or any number of years.
He further stated that Facebook getting into cryptocurrencies is a massive event in the cryptocurrency ecosystem, as the number of users on their platform is staggering. He added:
“Facebook is like the most important company in crypto. Well, they’ve got 2 billion users that use their product every single month. And whatever they create, it literally does not matter what they create… it is almost immediately the most used product in crypto.”
He also said that the recent rumor that has been going on is that Facebook is developing a stablecoin for users on Whatsapp in India and that if there is any credibility to this rumor, it would be a massive step forward in terms of cryptocurrency adoption.