Pompliano Apparently Holds 50% of His Wealth in Bitcoin
“I would make the argument that having 100% exposure to fiat currencies is a really bad idea. Right? Because if one of those fiat currencies that you have 100% of your wealth in either hyper-inflates or fails, you’ve got a lot of problems.”
American investor and co-founder of Morgan Creek Digital Assets Anthony “Pomp” Pompliano explained his investing strategy and skepticism towards fiat currency in an interview. .
When asked whether he thought that putting 50% of his wealth into the leading digital currency bitcoin (BTC) was a risky move, Pompliano said that risk is relative for every individual; however, he has a clear profile that he wants to undertake.
Pompliano stressed the need for more diversification, that leaves the question of how much one should divert from a fiat currency into a digital currency.
Bitcoin has the most secure computing network in the work, according to Pompliano, and “its defense-first approach actually leads to a great offense and drastically increases the probability that bitcoin will one day be the global reserve currency of the world.”
He further argued:
“For sure the nation state with the greatest military has always controlled the global reserve currency. […] things that previously have allowed a nation-state to control the global reserve currency — military superiority, economic sanctions etc. — all the sudden are much less effective, and what I believe is going to occur is the country or the monetary system that has the greatest defense actually is in a position to dominate.”
Earlier this week, Pompliano predicted that bitcoin will hit $100,000 by the end of 2021