Calibra will have to support Bitcoin, at some point, to survive, claims Anthony Pompliano

  • 29 June 2019, Saturday, 03:30

Libra, the groundbreaking cryptocurrency project unearthed by Facebook earlier this month has been called several things within the crypto-community. From a ‘crypto-look-a-like,’ to a ‘stablecoin impersonator,’ to ‘big-tech controlled crypto,’ and even the trivial names like ‘Zuck Buck,’ and ‘you’ve got Gemini, well, I’ve got Libra.’

With Libra well-and-truly occupying central real-estate on the coffee tables of the cryptocurrency, finance, and technology industries, not to mention the global regulatory hysteria, an often forgotten aspect of the Facebook project is the digital wallet, meant to pivot the crypto – Calibra.

Anthony Pompliano, the co-founder and partner at Morgan Creek Digital decided to jump into the Facebook rabbit hole in an interview with Ran Neuner of Crypto Trader. Agreeing with the host that Calibra will be the “big play,” in the project, Pomp stated that Libra will soon be accompanied by other top cryptocurrencies, in the wallet. He stated,

“Facebook is going to give a digital wallet to billions of people around the world, and that digital wallet isn’t just for Libra the currency, right. I see a world, in the future, where they are going to add Libra support, they are going to support Bitcoin, Ethereum, all these other cryptocurrencies. “

The crypto-verse will not be the sole beneficiary of the Calibra wallet, added the Bitcoin bull. Stocks, bonds, commodities and currencies under the umbrella of “tokenized securities,” will also find support.

On the informational front, Calibra will also add support for “healthcare data,” “social data,” and “personal data,” stated the Morgan Creek executive.

With a multitude of digital and online features rooted to the Calibra wallet, all under the operation guise of Mark Zuckerberg’s Facebook, Pomp equated this to be an “identity in a decentralized world.”

All set and done, the cryptocurrency community is hell-bent on if Facebook will provide support to the top-dogs in the cryptocurrency world. Pompliano placed the emphasis of this addition on Calibra, and added that in the long run, this would be the case of ‘when’ rather than ‘if,’ if the digital wallet wants to survive in the digital assets world.

He added,

“I don’t see a world where they don’t add Bitcoin support, at some point in the future, that could be five years, ten years from now. But I think again, if Calibra is going to be successful, it’s going to have to add support for Bitcoin and other cryptocurrencies and Libra will just be one of the many tokens that will be supported in that Calibra wallet.”

Speaking with reference to the movement of the Facebook share price following the Libra-Calibra announcement, Pomp was uninterested. He added that the public was not aware of the depth of importance that Calibra can have as an identity fulcrum. He added,

“It would not surprise me if people don’t yet understand the magnitude of importance that something that Calibra can have, that’s the opportunity.”