Bitcoin permabull Anthony Pompliano claims it would be mathematically more risky to hold the US dollar than it would Bitcoin over a 200-year timeframe.
In an interview on his podcast Off The Chain, while speaking with Chris Gure, a legacy investment consultant, Pompliano, colloquially known as Pomp, also said the separation of state and money was a foregone conclusion.
Pompliano is one of the best known faces in the crypto-space. His bullish stance on Bitcoin is known throughout the space – and more and more in the legacy world, but is his bullish view hype, or does he have a valid point?
The average lifespan of the average fiat currency is a mere 27 years
Back in 1971, then President, Richard Nixon, severed all links of the USD to gold (a temporary solution, we were told), which introduced the promise-backed dollar, as we know it today. That makes the US dollar 48 years old.
So, it goes without saying that the impaired USD has already outstayed its welcome and has zero chance of lasting for another 200 years.
All fiat currencies go through cycles until they die. Many experts were predicting the death of the dollar within a few years of coming off the gold standard. So the 48 years is quite astonishing. Especially when you consider how America was the richest country in history in the 1980s, but is now the most indebted country in history. Read More