Investing in cryptocurrencies has been in the spotlights ever since Bitcoin emerged as the leading new-age digital asset during the end of 2017. The industry has proved to be a launching pad for many thought leaders, and today we are in conversation with someone who moved from Facebook to the world of cryptocurrencies and made a name for himself. He founded the capital management firm, Morgan Creek.
Blockchain Reporter got the opportunity to interview the man himself, Anthony “Pomp” Pompliano. Having worked at Facebook, he now runs his own firm. So let’s take a dive into his mind so we might come out with some insight.
BR: When did you first hear about crypto and when did you get involved in it?
Pomp: I first heard about Bitcoin while working at Facebook in 2014, but didn’t act on the information. In 2016, I began learning more about technology and use cases, which ultimately led me to build a number of mining facilities with my business partner.
BR: What is the most valuable lesson you have learned as a trader?
Pomp: I don’t trade so the best lesson is “Don’t trade if you’re not a professional trader.”
BR: What are your expectations about the future implementation of the blockchain technology. In what way will the average person be influenced by blockchain technology?
Pomp: My hope is that everyday people never interface with blockchain technology. The products and services that leverage the technology must be good enough to solve people’s problems, without them ever realizing they are using new technology. The beauty of a great product is that it just magically works for the user, regardless of the underlying tech.
BR: Where do you see cryptocurrencies and Blockchain technology in 5 years?
Pomp: Every stock, bond, currency, and commodity will eventually be digitized. This will empower global machine-to-machine transactions in a way that is hard to imagine today. Not sure if this will happen in 5 years or 15, but I believe it will happen at some point.
BR: What are some of the projects you are currently interested in?
BR: Do you think crypto could prove to be a safe haven for investment during the next financial crisis? Or will its volatile nature be a concern?
Pomp: It is hard to tell how Bitcoin and crypto will perform during a global financial crisis. It wouldn’t surprise me if the decentralized assets continue to have little to no correlation to the legacy financial system though.
BR: Crypto market cap has diminished by more than $700 billion since January 2018. The current bear market has further caused many firms to layoff their employees. What’s your take on the current market state?
Pomp: Bear markets force tourists to leave and allow entrepreneurs to focus on building sustainable value. Right now is the time that the important work gets done — we should welcome bear markets and remind people that the lowest time preferences win.
BR: Is it bottom for bitcoin?
Pomp: Timing market tops and bottoms is a fool’s game in my opinion so I refrain from trying 🙂
BR: A few words for our readers about how they should handle themselves during this market
Pomp: Breathe. Everything will be okay.