As Bitcoin continues to drop, some of the biggest cheerleaders for the household name cryptocurrency are still out there promoting longer-term value.
Reports at Cointelegraph cite remarks by Anthony “the Pomp” Pompliano September 27 on CNBC’s Squawk Box, where the BTC enthusiast suggested that one reason people love Bitcoin is its decentralization and resistance to government control.
Referencing China’s plan to digitize its currency, Pompliano suggested that the U.S. should get on board now and digitize the dollar as well.
If creating a new U.S. dollar token seems a lot like the old way of keeping gold in Fort Knox, that appeals to quite a lot of libertarians and individual thinkers and investors who are intrigued by the concept of decentralized holdings that are verified through something other than plain fiat value.
Pompliano also drew a contrast between a tokenized U.S. dollar and Bitcoin, suggesting that in the end, people will want a cryptocurrency that’s completely untethered from fiat money.
But Pompliano, the Morgan Creek exec, is not the only Bitcoin fan talking about its “freedom potential.” Other more colorful figures include security mogul John McAfee, who sees his BTC crusade as part of a larger struggle against the strictures of American tradition. McAfee has gone as far as to roll out an idea for a “McAfee Freedom Coin” that he feels will loosen up financial exchange.
“The McAfee Freedom Coin is designed to confront the problem of exchange head-on… It is not based on any commodity nor is it connected to the value or behavior of any external item or entity. The value of the coin will always be zero in relation to any other currency yet it’s natural market value is free, completely, to grow,” McAfee said according to Coindesk reports in June.
So even if BTC is dropping like a stone today, remember, the hodlers, including these freedom-lovers and others, are holding on.