Amid the crypto-price rally, do Bitcoin Bulls put their money where their mouth is?

  • 29 June 2019, Saturday, 06:00

The world of cryptocurrencies is ‘reptilian,’ cold-blooded, color-changing and highly-scaled. With price charts often switching between red and green, several mainstays within the digital assets realm have often flip-flopped between considering Bitcoin as the tool of financial freedom, relinquished from the shackles of authoritarian governments, and instead view it through the myopic lens of a ‘get rich quick scheme.’

Some, however, have put their money where their mouth is.

One prominent Bitcoin evangelist is Anthony Pompliano. The co-founder and partner at Morgan Creek Digital made a stark revelation in a recent interview with CNBC Crypto Trader’s Ran Neuner.

The man who stated, last August, that Bitcoin would drop to $3,000 prior to jumping over the five-figure mark predicted, earlier this week, that the top cryptocurrency could reach as high as a $100,000 valuation come the end of 2021.

Always the Bitcoin bull, Pompliano was questioned on his stance of selling Bitcoin, rather than accumulating it. Differentiating between the fund management and his personal holdings, Pomp stated he is well-and-truly a supporter of Bitcoin as a store of value. He stated,

“What I do personally is, I’m not interested in selling. I store my wealth in Bitcoin.”

On presented a ‘hypothetical’ front of a $150,000 BTC price valuation by 2020, Pomp stated that, on the institutional front, “pieces of the position” will be sold into the bull market. However, he added that he is unsure when or where this market will manifest.

The stark declaration, or rather agreement, made by Pompliano was that over 50 percent of his assets were in the form of Bitcoin, complying with its goal of being a ‘store of value.’

Despite not making all his wealth in cryptocurrencies, the Bitcoin bull has put a majority of the same in Bitcoin, a statement which shows a great deal of conviction and belief in decentralized currency.

He added Bitcoin as a store of value is like any form of “long term investment,” similar to divulging funds into “bonds, or sitting it in cash.” However, Pompliano does not believe he is the lone BTC evangelist sticking to his principles,

“My guess is that there is [are] more people than you would imagine that do that.”

In the fickle world of cryptocurrencies where volatility is the only constant, many simply ‘talk the talk,’ while very few truly ‘walk the walk.’