The popular cryptocurrency analyst and podcast host, Anthony Pompliano, has dismissed 'get-rich-quick' schemes. His advice is definitely worth listening to as it is rarely akin to a 'to-do-list' from a motivational coach.
Don't try to get rich quick
Remembering his Reddit answer to the question of how to quickly turn $1,000 into $100,000, Mr. Pompliano highlighted that he recommends avoiding all sorts of 'magic schemes'.
Someone asked me how they could turn $1,000 into $100,000 quickly. This was my answer. pic.twitter.com/F2ePsWmvxm— Pomp ? (@APompliano) May 12, 2020
First of all, people should spend less than they make. Then, multiple sources of income should co-exist in building wealth.
Potential assets to invest in should be analyzed very closely. Mr. Pompliano recommends taking money out of inflationary assets and investing only in deflationary assets.
Patience is a true virtue of earning, the analyst concludes. If you want to get rich, you should stay patient and disciplined and not expect big money to come soon.
And what about crypto?
Despite cryptocurrencies not being mentioned in his advice, numerous altcoin shillers entered the comments section and started to promote Chainlink (LINK), Nimiq (NIM) and even the dubious coin HEX.
However, crypto and Bitcoin (BTC), in particular, was previously mentioned by Anthony Pompliano as investment instruments independent from manipulation 'by a single country or politician'.
As previously reported by U.Today, Mr. Pompliano revealed that his Morgan Creek Digital hedge fund spent a year seeking an asset to hedge against the uneven performance of traditional indexes, such as the S&P 500 and NASDAQ.
Finally, they decided to use Bitcoin (BTC) for such purposes.