Entrepreneur and Shark Tank star Kevin O’Leary came face to face with Anthony Pompliano, co-founder of Morgan Creek Digital on CNBC’s Fast Money program on Bitcoin’s future.
Anthony Pompliano: More than 50% of my investment is at Bitcoin!
When O’Leary was questioning the amount of Bitcoin in his portfolio, the Pompliano Bitcoin Oracle confirmed that more than 50% of its net worth was in the world’s most popular cryptocurrency. O’Leary, a well-known crypto critic, responded to this answer:
I FORBID IT. THIS IS INSANE. IT VIOLATES EVERYTHING RELATED TO PORTFOLIO DIVERSIFICATION STRATEGIES. CRAZY!
O’Leary says that investing that much money in any asset violates portfolio diversification principles. The Canadian businessman recommends that you invest only 5% in the shares of any company:
I TEACH THESE SUBJECTS. YOU CAN NEVER GO BEYOND THAT NATURE’S CONCENTRATIONS. 50%? SHAME ON YOU. THIS IS CRAZY!
Advice to investors from Bitcoin Oracle
On Monday, Pompliano stressed that any person investing a large amount of his portfolio in Bitcoin is a critical decision due to the risky nature of cryptocurrencies. Bitcoin Soothsayer Pompliano gave a further important message to investors as he entered the next Bitcoin bull market:
IMPORTANT MESSAGE AS YOU ENTER THE NEXT BITCOIN BULL MARKET! BTC IS VERY VARIABLE. YOU CAN LOSE ALL YOUR MONEY. JUST INVEST WHAT YOU THINK IS APPROPRIATE TO RISK LOSING. COMMENTS ON TWITTER ARE NOT INVESTMENT ADVICE. DO NOT BUY BTC WITH CREDIT CARDS . MAINTAIN YOUR PREFERENCE TO RECEIVE BTC AT LOW TIMES. DO YOUR OWN RESEARCH.
Renowned investor explains step-by-step Bitcoin bull run
The Federal Reserve finally lowered the interest rate, making the first cut since the financial crisis. Bitcoin bulls like Anthony Pompliano couldn’t have been more excited. The highly aggressive Bitcoin trader predicted a $ 100,000 BTC price over the next two years. Pompliano said the FED’s lowered interest rates, coupled with the upcoming 2020 Bitcoin halving, are the elements needed to bring BTC bulls to the stage. On Twitter, the American entrepreneur and co-founder of Morgan Creek Digital Assets wrote:
THE BANK OF AMERICA BELIEVES THAT THE FEDERAL RESERVE MAY NEED TO RETURN TO QUANTITATIVE EASING, AS IN THE FOURTH QUARTER OF THIS YEAR. STEP 1 WAS LOWERING INTEREST RATES. STEP 2, PRINTING MONEY. STEP 3, YOU WILL BE HALVING BITCOIN. THE RESULT IS A BULL RUN! YOU CAN’T WRITE A BETTER SCENARIO FOR THE RISE OF BITCOIN