On August 6th CNBC Television uploaded an episode of Squawk Box that included Anthony Pompliano, co-founder and partner at Morgan Creek Digital Assets and Kevin O’Leary, best known to be a Shark on ABC’s Shark Tank.
The conversation doesn’t get interesting until the 2:37 mark when Kevin, also known as Mr. Wonderful chimes in and asks, ” Help me become a believer okay because I’m a huge skeptic of this. I have my crypto crap wallet, I put a hundred dollars into it two years two months ago at a Harvard Business School class at night. It’s worth $30.62, primarily because all the other crap Etherium, XRP, Bitcoin Cash, Litecoin, Stellar Luminous blah blah blah. What happened to that stuff? If this is really such a great idea, why is there only one Vegas game working?
Anthony Pompliano responds, ” I’ll save you a lot of headache…Bitcoin is the most important and that’s the only one that you should focus on”. Having talked about times of global instability earlier in the interview he adds on, ” It’s actually irresponsible for institutions to not have exposure to this asset, and the reason is their job is to find assets that actually can provide non-correlation to the rest of the markets, especially in times of global instability where there’s likely to be market draw downs.”
You can tell that the opposite effect was taking place and the previous celebrity angel investor on Canada’s Dragon Den’s head was spinning with questions. After discovering 50% of Anthony’s net worth is in Bitcoin, Kevin calls him insane and goes against his investment strategy, and at one point shames him for not following his financial methods.
On Kevin O’Leary’s website, he says “to get rich, you need to get financially literate first.” It’s difficult to argue that quote when the man that said it has a net worth over $400 million in USD, but maybe, just maybe, the literature of finance changed forever with the publication of Bitcoin’s Whitepaper.
“If you don’t believe in Bitcoin, you’re essentially saying you don’t believe in cryptography” – Anthony Pompliano
Mr. Wonderful recently joined the race to lead Canada’s Conservative party, so at some stage in his career, he may run for the prime minister role of Canada. Knowing his stance on Bitcoin, would he be a candidate that can win your vote?
Sharing is Caring
Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.