Bitcoin Intrinsic Value Debate: Anthony ‘Pomp’ Vs Shark Tank’s Kevin O’Leary
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Bitcoin is back in mainstream news as it continues to outperform traditional assets. While BTC proponents continue to praise the technology, new-comers and fresh investors are back at attacking the asset stating it lacks utility.

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Recently, one of the most popular Bitcoin activist, founder of Morgan Creek Digital, Anthony Pompliano, and another celebrity VC, shark tank’s Kevin O’Leary again crossed horns at a CNBC interview for the same debate: Bitcoin’s value proposition.

Also Read: Will Bitcoin [BTC] Smash $10K Before the End of May? Analysts Predict So

Kevin O’Leary was absolutely against Bitcoin and cryptocurrencies which was evident in his choice of words for it which included B*ll Sh*t and Crypto Cr*ap, He said,

I see nothing here except raw speculation. Where is the intrinsic value inherent in deploying real money and putting it in Bitcoin? The regulators don’t like it… Where is the long term value?

According to O’Leary, Bitcoin is a ‘game’. Moreover, he also criticized the Bitcoin halving mechanism which reduces the value of mining rewards by half every four years. However, his criticism seemed to be coming from ignorance towards the system and lack of knowledge about it. He continued to bash Bitcoin as a glorified game.

Bitcoin HalvingBitcoin Halving Countdown (Source)

However, Pompliano who is popularly known as Pomp who made the phrase Long Bitcoin, Short the Bankers popular held his conviction towards Bitcoin. He revisited the value propositions of Bitcoin due to its demand and supply economic system to which O’Leary seemed oblivious nonetheless. Pomp said,

“It’s a disruptive technology… Money is a belief system. So the only reason why you, and I use it because we belive it has value… Look at the volume. Look at the number of people using it.”

Furthermore, Pompliano went on to challenge the favorite saying of naysayers of ‘how regulators hate Bitcoin’. According to him, the regulators are actually coming around on Bitcoin because of its unified public ledger and transparency, which makes it very easy for tracking the movement of funds.

“I have interviewed a DA agent who came on and they would love for criminals to use Bitcoin over US Dollar and cash. Its much more traceable.”

Also Read: Bitcoin Futures Volume On CME Crosses $1.2 Billion; Is US-China Trade War Driving BTC?

Last but not least, Pomp also reiterated the fact Bitcoin is a “Non-correlated asymmetrical asset” that is must in your investment portfolio, more so ever, because the bull market is back. The institutions like Fidelity and Bakkt are coming for it as well. However, Kevin continued to doubt Pomp’s optimism dubbing it as “Garbaage” and said that he would entirely abstain from making any investment in it.

Which side are you on, the Bankers or Bitcoin? Please share your views on the debate.

Bitcoin Intrinsic Value Debate: Anthony 'Pomp' Vs Shark Tank's Kevin O'Leary
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Bitcoin Intrinsic Value Debate: Anthony 'Pomp' Vs Shark Tank's Kevin O'Leary
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Bitcoin is back in mainstream news as it continues to outperform traditional assets. While BTC proponents continue to praise the technology, new-comers and fresh investors are back at attacking the asset stating it lacks utility.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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