For a long time, there has been a strong debate between the crypto community and international market analysts. For those, the ultimate fate of Bitcoin and cryptocurrencies is to disappear, being just a virtual currency without government backing. However, when BTC seems to have become one of the most important financial assets in the world, Anthony Pompliano assures that it is not possible to kill Bitcoin in the Tweet of the day:
How to kill Bitcoin?
Every time the price of Bitcoin experiences one of its constant corrections in its price, hundreds of crypto skeptics around the world begin to claim that it is the end of the cryptocurrency. This in turn fuels panic in the market, leading to cautious users deciding to sell their BTC. This before demand shoots up again, and with it the price of the cryptoactive.
This has happened time and time again, despite which the arguments of the crypto skeptics as well as the defenders of the crypto community, do not stop repeating themselves. Revolving in most cases around the usefulness of cryptocurrencies for the economy. Due to the difficulty with which crypto users can perform operations with Bitcoin, having to wait several minutes before they are executed.
A situation that, in the opinion of Anthony Pompliano, does not affect the development of Bitcoin at all. Well, the great strength of the cryptocurrency lies in the trust that its users have in it. And not in the endorsement of any government, or in its use as a local currency. Therefore, according to Anthony Pompliano, it is not possible to kill Bitcoin as long as it has the support of millions of people.
«You can’t kill Bitcoin because you can’t kill an idea that has been accepted by more than 100 million people around the world.».
Behind this comment lies not only the key to Bitcoin’s success, but also the source of fiat money’s strength. Well, at the end of the day, what gives money value is the trust people have in it. And in that sense, without a doubt, BTC is trusted by millions.