Bitcoiner ‘Pomp’ Screams ‘Judge’ on CNBC – As Cramer Turns Collateral Damage – Bitcoin (BTC/USD)


The financial media has brought one of the most vocal proponents of cryptocurrency Bitcoin BTC/USD. The interviewer saw an attempt to call out the guest for being an “evangelist” for Bitcoin, instead turning haters into fans of the interviewer.

What’s going on: Bitcoin bull and co-founder of an investment firm Morgan Creek Digital, Anthony Pompliano is known for its podcasts, videos and newsletter dedicated to the world of cryptocurrency. He was invited to CNBC on Tuesday to share his thoughts on Sam Bankman-Fried and dissolution FTX FTT/USD and also what’s next for Bitcoin.

CNBC anchor Scott WapnerKnown as “The Judge,” Pompliano said he could do fundamental analysis for stocks but not for the cryptocurrency market, which Pompliano denied.

“I don’t believe it’s true. You can definitely do fundamental analysis,” Pompliano said. “There is a difference between price and fundamentals.”

Although bitcoin has fallen 75% over the past year, 67% of bitcoin in circulation has not moved in 12 months, Pompliano said.

“We are watching the biggest battle of 2022, where Bitcoiners and HODLers are against the macro environment.”

Pompliano said he was betting on BItcoiners.

“Shopify and DoorDash are down 75% to 95%, much lower than Bitcoin, if Bitcoin is so big, are we going to pretend Shopify isn’t valuable now, it’s over?” Pompliano asked. Shopify Inc STORE and DoorDash Inc DASH.

Pompliano argued that Bitcoin is a decentralized, peer-to-peer network with a great track record, and that bitcoiners are trying to “return to the principles of eternal investment.”

When asked about responding to people’s criticism after the FTX events unfolded, Pompliano said CNBC paraded other investors who held shares down on Bitcoin.

“I believe Bitcoin will outperform many other assets over the long term, I still do and I’m putting my money where my mouth is.”

Pompliano in FTX, Sam Bankman-Fried: Pompliano said he had not spoken to Sam Bankman-Fried recently, adding that the FTX incident was shocking and surprising to many.

Pompliano said people were surprised at how well some assets held up given the collapse of the second-largest cryptocurrency platform.

“It was a player that was not only regulated in some respects, but also in Washington (D.C.) and dealing with regulators,” Pompliano said.

Pompliano said that he had a business with FTX that had some money in it, that he had some money in the platform, and when asked about his relationship with the company, he said that he had an advertising relationship with the company.

Related Link: Warren Buffett Now Owns Bitcoin, How the Oracle of Omaha Was Exposed

About Buffett, Munger: One of the topics Wapner brought up was legendary investors Warren Buffett and Charlie Munger of Berkshire Hathaway Inc BRKABRKB Being anti-Bitcoin.

On Tuesday, Munger said Bitcoin is notorious for fraud and good for hijackers, after previously calling it “rat poison.” Wapner asked Pompliano if the two investors were right amid concerns about the industry.

“They don’t understand the technology,” Pomplinao said.

Pompliano said studies show that the US dollar is used more for money laundering than Bitcoin, but people want to have “headline-grabbing anti-Bitcoin statements.”

The Bitcoin investor said that buying large assets and holding them forever and turning dollar value into large assets are two principles used by Buffett and Munger as well as Bitcoin HODLers.

“I believe that if Warren Buffett and Charlie Munger were 25-35 years old today, they would be Bitcoiners. The difference is that they didn’t have the capacity to allow the money to come in based on a decentralized application.”

Pompliano said bitcoin has outperformed the assets of Buffett and Munger over the past decade, and the two investors will continue to hate Bitcoin.

Others sound like: After the interview aired, many criticized Wapner’s questions and showed support for Pompliano, whether he liked Bitcoin or not.

CNBC anchor Jim Cramer he tweeted Pompliano said he made a lot of money because he dared him to win “big money.”

Kramer called Pompliano a “great guy” but said he had changed BlockFiA company with great exposure to FTX by Pompliano.

“Love @Pomp but he put me on BlockFi,” Kramer said he tweeted.

Pompliano responded to Cramer, who said the CNBC host had sold all of his cryptocurrency.

“LMAO Jimmy Chill!! You said that you sold and bought the farm,” – Pompliano he tweeted.

Benzinga reported that Cramer has changed his stance on cryptocurrency this year

Bitcoin bear Peter Schiff tweeted in support of Pompliano, a rare occurrence.

“It’s hypocritical for Scott Wapner to accuse Pompliano of pumping Bitcoin on CNBC because CNBC was giving him and other crypto people constant free airtime to pump” he tweeted.

Schiff too he was amazed As the cryptocurrency reached new heights and was noticeable to investors, where were the tough questions about Bitcoin.

“CNBC is more involved in investor losses than Pomp.”

Co-host of Benzinga’s PreMarket Prep Dennis Dick the bell rang on Twitter after watching the interview between Wapner and Pompliano.

“Great argument by @APompliano. CNBC slammed Bitcoin mercilessly, and they’re not apologizing for the drop. Why should Pomp do that?’

“Pomp buried it,” Dick said in an interview when announcing the winner.

BTC Price Action: According to data from Benzinga Pro, bitcoin is up 1.4% at $16,788.84 at the time of writing, and is down 8.6% over the past seven days.

Read next: Want to bet against Jim Cramer? New Inverse ETF by the Man Who Carried Cathie Wood

Photo by MoneyConf on Flickr





Source link