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Anthony Pompliano would not buy XRP cause it has nothing driving value

In an interview with CNN’s Julia Chatterley, Anthony Pompliano, co-founder of Morgan Creek Capital, said he would not buy XRP. He has put Bitcoin apart from other Blockchain projects and said XRP is not worth any promotion.

Co-founder Morgan Creek Capital has no faith in Ripple’s XRP

Anthony Pompliano seems to have never considered buying XRP or TRX. Because Pomp flatly says no to XRP as well as other crypto-assets. He makes Bitcoin different from all other Blockchain projects. He stated simply that he did not believe that they hold the same value proposition as Bitcoin.

He shared:

“No, because I ultimately don’t think that they have the same value that these assets have. I believe that stocks – what gives them value? – GDP, revenue, profits, etc. Everything that makes those valuable that doesn’t ‘ t change. You’re just changing the technology form factor of which you will buy that asset.”

He continues:

“All of these other assets that are ‘utility tokens,’ either they’re utility in terms that they give you access to something. Hence, they’re not an investment, or it is more I get utility or some [better] service in exchange.”

Pompliano went on to explain that XRP and Ripple are two very different investments. For example, Ripple has assets like xRapid, xCurrent, and XRP, as well as profits, cash flow, investments in Bitso, Moneygram, and other metrics used for valuation. On the other hand, XRP has nothing to create or promote its value other than price speculation.

He shared:

“Ripple, the software company, is different than XRP, the token. I think that part of the problem is that retail investors had believed that by buying XRP, they had exposure to the financial performance of Ripple. That’s not true … If Ripple is successful, that does not necessarily mean that XRP ends up being successful.”

He added:

“I, as an investor, want to own equity in the software company because there are profits, there’s assets, revenues, etc. I don’t want to own an asset that may or may not be there in the future and doesn’t have an underlying utility or value driver that I can point to and say I have confidence that that’s going to last.”

He went on to say that in addition to Bitcoin, he felt that tokenized securities were the second most exciting type of crypto investment and that he saw a great future for traditional tokenizing assets.

Pomp has almost half of its net worth in Bitcoin

Pompliano ended the interview segment by answering Chatterley’s questions about an earlier statement, where he acknowledged having half of his net worth in Bitcoin. Pomp admits he has about half of his net worth in Bitcoin even though he hasn’t been in crisis recently.

He went on to say that he has even bought more BTC since his public enrollment. At the beginning of the interview with Chatterley, anchor CNN asked Mr. Pomp about the environmental impact of Bitcoin’s Proof-of-Work mining.

Pompliano has created an excellent case for mining used by energy companies to capture renewable energy, and the profits from energy are often wasted. He also cited the fact that 70% of the energy used to mine BTC is renewable.

Bitcoin can create a more efficient energy market for these companies. He also pointed out that Bitcoin is the safest computer network on earth, and security is valid spending of energy sources. This security is a significant driver in Bitcoin’s position as a store of value.

Becoming a store of value is needed before other monetary qualities, such as becoming a means of exchange or unit of account, can occur.

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