Bitcoin expert Anthony ‘Pomp’ Pompliano has said that every pension fund needs to have exposure to Bitcoin as the problem of pensions, especially in America, is only going to get worse over time.
Sharing his information about difficulties in the pension scheme of General Electric, he says Bitcoin is a way out for pension funds. Pompliano shared news that General Electric has left 20,000 of its staffers without pension. He points out that the pension issue is only going to become worse in the future and that pension funds should embrace Bitcoin. Bitcoin could have saved General Electric employees’ pension, he said.
This is not the first time Pomp has mentioned the problem of pensions in the US. “Wait till people start realizing that most pension funds don’t have enough money to cover their obligations,” he warned.
Earlier, in one of his interviews to CNBC, he had stated that it is irresponsible of modern institutional investors not to have Bitcoin in their portfolio. Recently, he said that Bitcoin offers different things to different people, such as being impossible to be seized or manipulated by the government. The co-founder of the Morgan Creek Digital fund and a prominent Bitcoin expert, Pompliano often comes up with new arguments for an increase in Bitcoin adoption by financial institutions globally.
Pompliano seldom mentions Bitcoin’s volatility but all his forecasts imply that in the near future the Bitcoin price is going to surge tremendously. He does often urge his followers on Twitter to invest in Bitcoin and other crypto, but only as much as they can afford to lose.
Earlier, Morgan Creek Capital CEO Mark Yusko had also stated that Bitcoin is vital to have for financial institutions. He believes that crypto assets and Bitcoin in particular are necessary for institutional investors to embrace.
Yusko believes that Bitcoin is an absolute must for institutional investors to acquire. They have to ‘get off zero allocation to crypto and Bitcoin in particular,’ he said. High-end crypto investors keep promoting Bitcoin, promising high returns in the future, often mentioning that it cannot be manipulated or printed extra unlike fiat money during the recent Fed Reserve QE moves.
The Morgan Creek Capital CEO also backed Anthony Pompliano on Bitcoin and pension funds. Yusko’s tweet came as a response to an earlier statement by Anthony Pompliano from Morgan Creek Digital, in which Pompliano stated that US pension funds will be unable to conduct pension payouts to all of their customers in the future, basically hinting that they should all invest in Bitcoin, despite its volatility.