Anthony Pompliano, well-known and self-advocated Bitcoin Bull and founder of capital management firm, Morgan Creek, has stated in a recent interview with CNBC’s Squawk Box, that over half of his new worth is in Bitcoin (BTC).
Pompliano, prior to the interview, explained why he believes NOT holding Bitcoin, as a part of a portfolio is irresponsible.
“We’re now entering a position where its 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.”
Pompliano further went on to explain that the negative correlation between Bitcoin and other financial markets was shown when the coin surged 55 percent after the trade war between the United States and China escalated in May 2019.
CNBC’s Squawk Box has become a popular mainstream platform for discussing everything cryptocurrency. The show has hosted a string of the most notable faces in the cryptocurrency industry, including but not limited to Fundstrat Capital’s Thomas Lee and Galaxy Digital CEO Mike Novogratz.