By Tobi Loba
Anthony Pompliano, the co-founder at Morgan Creek Digital, who is a stern Bitcoin maximalist, has recently said he does not understand why people are buying XRP. He said he believes that the success of Ripple will not necessarily impact the price of XRP.
Pompliano said this in a recent episode of The Pomp Podcast with the TechCrunch and Arrington XRP Capital founder, Michael Arrington, about Bitcoin (BTC) and XRP.
During the Podcast, the popular Bitcoin advocate showcased his interest in the San Francisco based fintech, Ripple, but a total disinterest in the digital token XRP. Pompliano also admitted that he wished he had invested in Ripple earlier to earn a profit.
He said:
“I think that XRP as part of the Ripple product, meaning they use it inside the product, I understand why they do that. I see the advantages inside the Ripple ecosystem. What I don’t understand, and I think where I choose to not engage on the XRP side, is I don’t understand why people are buying it, speculating on future price movements.
To me, if Ripple is successful, that doesn’t mean XRP has to be successful…
If you separate XRP and Ripple, Ripple as a software company that wants to build better software for banks, [it is a] no-brainer, makes sense, venture capital bet. I’m jealous I didn’t invest in Ripple in the seed round.”
Anthony Pompliano further stated that Bitcoin (BTC) can only worth millions of dollars or worth nothing, which makes him term Bitcoin as the most binary asset around.
“Bitcoin is the most binary things you can find. It is either going to be worth millions of dollars a coin or it’s going to be worth basically nothing. You, me, and everybody else is underestimating how big Bitcoin can get…
Murad Mamhmudov made an argument that Bitcoin’s market cap is not comparable to just the global monetary supply at $90 trillion. He thought it was a $150 trillion and how he got there was a lot of the assets that you and I own, we own because we don’t want to hold cash because of inflation.
Just like Uber was a market expanding piece of technology and it wasn’t just against taxis. It ended up like some people don’t own cars. Same thing here. Maybe I don’t put my wealth in store of value assets. I can put that in ‘currency’ because it’s a deflationary type currency.”
Michael Arrington Believes in Both Bitcoin (BTC) and Ripple’s XRP
On the other hand, the well-known entrepreneur, Michael Arrington, shared his interest in cryptocurrency, especially Bitcoin (BTC) and XRP.
He pointed out that he loves XRP and believes that Bitcoin is money and money is Bitcoin.