Chatter Report: Pompliano Praises Bitcoin Performance, Antonopoulos Says Death Spiral ‘Unlikely’

In today’s Chatter Report, we explore the different ways crypto influencers have been responding to the low prices of 2018. Some are unfazed like Anthony Pompliano, who still believes that bitcoin is the best performing asset. Others are reassuring like Andreas Antonopoulos, who has been busy addressing concerns about bitcoin being in a death spiral. The rest are pensive like James McAvity, who has been theorizing about which miners are holding their coins rather than selling them.
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Bitcoin is the ‘Best Performing Asset’
Anthony Pompliano, founder of Morgan Creek Digital, sparked a fervent discussion on Twitter when he noted that the S&P had almost lost $755 billion in a single day. Pompliano was putting losses in perspective for cryptocurrency investors, as public equity investors lost more money in a single day than crypto investors did for all of 2018.
Crypto Twitter quickly fired back, as former Wall Street trader John Todaro pointed out the unfair nature of comparing two markets that have different capitalizations. Todaro expanded more on the misleading nature of Pompliano’s tweet, arguing that they should be comparing percentage gains/losses and not raw figures.

Yeah but different mkt sizes obviously. So when the S&P 500 rises 3% in a day, you'll say us stocks made more money than all of crypto combined?
— John Todaro (@JohnTodaro1) December 4, 2018

Another commenter, Alamentarius, argued that it was unfair to compare the “equity value of every public company” with a “speculative project that turned into a bubble.”

Bitcoin outperformed the S&P 500 for last 10 years, 5 years, and last 2 years. It will outperform over next 10 too.
It’s irresponsible for investors to have zero exposure to the best performing asset.
— Pomp 
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