Anthony Pompliano, a well-known Bitcoin advocate, again took over his Twitter to praise Bitcoin. The tweet featured how Bitcoin recently went above the resistance level of $11,000 and reached $11,442. Along with this, Pompliano also criticized the financial institutions that are still not able to get their hands on Bitcoin. According to him, Bitcoin is an asset that comes with best-adjusted returns.
At this point, you’re violating your fiduciary duty if you invest capital on behalf of an institution & you have no exposure to Bitcoin.
Your job is to find the best risk-adjusted returns.
Nothing better than Bitcoin.
About time we all start saying it loudly, so they listen.
— Pomp 🌪 (@APompliano) October 10, 2020
Pompliano Remind Community that Bitcoin says “Come to Papa”
In the tweet, Pompliano reminded the whole community about the supremacy of Bitcoin due to the recent increase in its price. He stated that Bitcoin is now saying, “come to Papa.”
For the past some time now, Bitcoin seems to be quite stable which is completely against its nature. Now this sudden surge in its price is because recently Microstrategy and Square have acquired a huge amount of Bitcoin. Bitcoin has now reached above the $11,000 level and it seems that it will soon reach the $12,000 level as well. Another reason why there has been this sudden increase in Bitcoin price is that Keith McCullough, CEO of Hedgeye Risk Management has dumped all of his Bitcoins.
Institutional Investors Reminded of Finding Best Risk-Resistant Assets
This is not the first time Pompliano has praised Bitcoin, as he is well known for it. Now along with praising Bitcoin, he has also attacked the financial institutions that still haven’t got involved in Bitcoin. He stated that financial institutions other than MicroStrategy, Square, and Grayscale are violating their fiduciary duty because they are not having any exposure to the Bitcoin. Anthony Pompliano also reminded institutional investors about their duty and asked them to do what they are hired for. The main job of financial institutions is to find the best risk-proof assets. And mentioned that nothing can be better than Bitcoin in case of risk-proof investment.