Analysts and Media Report Growing Interest in Bitcoin

Analysts and Media Report Growing Interest in Bitcoin

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Bitcoin continues to attract the attention of potential investors. Representatives of the most diverse professions and segments of society are beginning to show interest in cryptocurrency with the largest market capitalization.

The impetus for increased attention was the concern of people about the future amid the coronavirus pandemic and the economic crisis. It should be noted that supporters of Bitcoin often focus on rash actions by the government. They believe that the central bank should not have allocated assistance to the people and businesses in this way.

Influencers and well-known investors warn their audience of imminent inflation and the risk of irreversible consequences for the US economy. Increasingly, one can hear about the need to invest in BTC to protect savings.

It became known that Bill Burr — a comedian, screenwriter, actor, and producer, best known for the animated series “F is for Family”, was inspired by the idea of Bitcoin and even decided to invest in cryptocurrency. The stand-up comedian announced that he had decided to buy BTC after the convincing arguments of Bitcoin investor Anthony Pompliano.

Pompliano took part in the Bill Burr and Bert Kreischer podcast called “Bill Bert Podcast”. The humorous podcast was about Bitcoin and the main problems of the existing financial system. After talking with Pompliano about the 2008 crisis, Burr said that now he is also going to invest in BTC.

Morgan Creek Digital cofounder cited Lebanon as an example of hyperinflation and noted that the Fed’s policies could make social inequality more visible:

“The reason people are so excited about bitcoin is that no one can print it. No one has control over it.”

According to the investor, the dollar has no chance of becoming a strong global reserve currency. Pompliano believes that the dollar will collapse, repeating the fate of its predecessors, and in 10-50 years it will be Bitcoin that will become the world’s reserve currency.

Let us remember that the Dutch guilder (18th century) and the British pound (19th century) were reserve currencies until the US dollar replaced them in the 20th century.

In turn, Bitcoin was created by an anonymous developer Satoshi Nakamoto during the 2008 crisis. Since then, many oppose BTC to all centralized fiat currencies.

The main difference between Bitcoin and paper money is the fact that there are no more than 21 million BTC in the network. Thus, cryptocurrency can be considered a truly scarce asset, whose price will increase depending on demand.

“My head is going to explode, Jesus Christ,” Burr said after an hour of conversation.

Anthony Pompliano later posted a funny tweet about the results of the podcast: