Non Seizability Is Why Bitcoin Looks Very Attractive To Hong Kong: Pompliano

The prominent investor and authority in the crypto space, Anthony Pompliano (known as “Pomp”) is in the Bitcoin news now for his opinion on the Hong Kong markets. According to Pomp, non seizability is coming to the focus in Hong Kong as trading volumes rise and businesses are finally making their moves through with BTC’s acceptance.

A lot of commentators including Morgan Creek Digital and its co-founder noted this, stating that Bitcoin is right now a genuine solution for Hong Kong residents who are worried about monetary sovereignty.

“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,” Anthony Pompliano tweeted on Oct. 6.

Apple used to be an aspirational brand for rebels and misfits.

Now it is actively censoring information in Hong Kong by removing apps from the App Store after Chinese pressure.

The disrupters always eventually become the man.

Sad to see, but shouldn’t be a surprise.

— Pomp 🌪 (@APompliano) October 10, 2019

Pompliano is featured all over the crypto news worldwide and was writing this only days after China’s 70th state anniversary protests occurred – met with a quite forceful reaction from the government.

In the face of an upcoming crackdown on civil liberties through emergency powers, the monetary freedom clearly took a hit and worried residents formed queues at ATMs. Pomp believes that non seizability is the main reason BTC is attractive to these residents – and the giant spike in trading on P2P Bitcoin exchange Localbitcoins in the country indicates that this is true. For those of you who haven’t seen this in the news, Hong Kong saw 12.3 million HKD ($1.57 million) changing hands in the last week of September.

Meanwhile, we can see a lot of local entities who are eyeing possibilities for escaping the grip of authorities. All of them have considered Bitcoin – but it was the teething problems which obviously hit the headlines.

As many sites reported, the Hong Kong Free Press (HKFP) complained bout the payment processor BitPay failing to pass on the donations to this cause. Meanwhile, BitPay blamed the banking system and sparked a big debate speaking about the irony of relying on fiat via third parties in order to use Bitcoin.

However, as of October 10, the HKPF seems to have resolved the issue, as the founder Tom Grundy revealed – mainly by switching to an open-source alternative known as BTCPay.