Posted 2 years ago | by Ben Armstrong
Kevin O'Leary Rejects Pomp's Stand on Bitcoin
Shark Tank standout Kevin O'Leary, also known as Mr. Wonderful, was shocked when he heard Anthony "Pomp" Pompliano's level of investment in Bitcoin. Pomp has 50% of his net worth is in Bitcoin. O'Leary responded by telling Pomp that he forbids him to keep that level of investment. It was interesting to watch O'Leary respond to Pomp like he was giving a pitch on Shark Tank.
— Squawk Box (@SquawkCNBC) August 6, 2019
O'Leary did make some good points about portfolio management. He said he would never suggest having more than 5% of one's portfolio in any given stock and no more than 20% in any one sector. Trading & investing always comes with a risk and risk management is very important. However, many Bitcoin investors find themselves in a similar situation to Pomp.
Bitcoin isn't like a stock though people want to continue to place it in that category. Enthusiasts believe Bitcoin is a once in a lifetime opportunity and they want to put as much disposable income toward it as possible before it's too late. People like Pomp are betting on the fact that one day overall wealth and portfolios will be measure in BTC instead of USD or any other fiat currency.
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