Pompliano Says Not Seizing Bitcoin Is Very Attractive for Hong Kong

Anthony Pompliano

Bitcoin adoption in Hong Kong is increasing as trading volumes spike.

 

As many commentators including Morgan Creek Digital co-founder Anthony Pompliano noted this week, Bitcoin is a genuine solution for Hong Kong residents worried about monetary sovereignty.

Pompliano tweeted: “When you’re worried about your assets being seized or becoming inaccessible to you, Bitcoin’s non-seizability becomes very attractive. This aspect of Bitcoin just became important for 1+ billion people in India & Hong Kong,”

 

Amongst a crackdown on civil liberties, monetary freedom also took a hit, with worried residents forming queues at ATMs. Hong Kong saw a giant spike in trading on P2P Bitcoin exchange Localbitcoins, seeing 12.3 million HKD ($1.57 million) change hands in the week ending.

Local entities looking for possibilities to escape the grip of authorities had already considered Bitcoin.

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