Opposing Views: Pomp & Mike Green on Bitcoin

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 17 March 2021

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

Crypto Wednesday: Mike Green, chief strategist and portfolio manager at Logica Capital, and Anthony Pompliano, investor at Pomp Investments, join Ash Bennington, Real Vision senior editor, to discuss their opposing views on Bitcoin. They each explain their views on Bitcoin—Pompliano makes the case for Bitcoin being a store of value that should be widely adopted and encouraged by the United States in order to stay competitive globally while Green asserts that Bitcoin is used primarily for nefarious activity and is mainly controlled by entities that are oppositional to the United States. Green believes that Bitcoin is the perfect example of markets indicating that something is incredibly successful, even when in actuality it is failing (or will fail), and that its price appreciation does mean that it is a robust system. Filmed on February 1, 2021. Key Learnings: Pompliano believes that there are many non-trivial indicators that suggest Bitcoin is robust and becoming widely adopted including the number of wallets, transactions, and hash rate. He believes there is a significant chance that Bitcoin will be adopted by a significant amount of the S&P 500 companies and nation-states. On the other hand, Green thinks it is extremely unlikely to see major adoption from the largest companies and nation-states, explaining that this could even harm the U.S. He believes that Bitcoin can be trivially attacked and taken down by a nation-state and that the system is not as secure as many people claim it to be. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	First, thank you both for coming and having this conversation on Real Vision Crypto.
0:18.9	Anthony, of course, you've been on Real Vision multiple times and you've hosted
0:23.0	ROW on your Pom podcast, Mike, you host, Mike Green in Conversation series right here on Real Vision.
0:29.4	This debate started on Twitter. We all love Twitter. It's a great place to blast out little squibs
0:34.2	but not always the best place to have a long-form conversation. You know, when I think about this,
0:39.8	this is more than a debate between two individuals. This is two worldviews colliding and that broader
0:44.7	collision is just beginning to be felt around the world. I couldn't think of two better people
0:49.7	to represent those worldviews here than you pop. You're at the very vanguard of the digital assets
0:55.6	investment movement at Morgan Creek Digital. Mike, what you do over at Logica Capital is some of
1:00.1	the most sophisticated analysis of traditional capital markets anywhere and we're very glad to have
1:05.2	both of you here on Real Vision for this conversation today. Mike, since you started to make the case
1:12.0	that kicked off this debate, why don't you go first and explain the basic framework, what is your
1:17.2	view of Bitcoin and why? Well, this first is background, right? The reason that I became more actively
1:23.6	involved in the Bitcoin debate was kicked off by actually a Real Vision event, a Black List event
1:29.8	in Dallas, Texas in October of 2020. I was fortunate to be there and have the opportunity to engage
1:39.2	with a number of family offices that were almost uniformly making the observation that they were in
1:45.0	the process of replacing gold in their portfolios or reallocating away from gold into Bitcoin and
1:51.6	interestingly, they all use the same terminology that it was the superior asset. As I began to
1:58.1	evaluate that condition and to think about that dynamic, it was important for me to really dig
2:04.0	in in a professional sense and as I've indicated elsewhere, I participated in Bitcoin, I've had
2:08.9	involvement with Bitcoin on a personal basis historically. I ultimately have chosen not to do that
2:14.7	anymore and that was a personal choice. As I dug into it on a professional basis, it required
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