Morgan Creek's Anthony Pompliano keeps over half his net worth in BTC

Anthony Pompliano, the co-founder at Morgan Creek Digital and outspoken Bitcoin bull, said that over 50 percent of his net worth was in BTC in an interview with CNBC's Squawk Box.

Recently, the show hosted Anthony Pompliano, the partner at Morgan Creek Digital, and one of the most outspoken Bitcoin advocates in the industry.

Pompliano was joined by Kevin O'Leary, a Canadian investor best known for his role as the shrewd money-hungry judge on ABC's "Shark Tank." During the short time slot on Squawk Box, the two had a heated discussion about the volatility and lack of real-world usage for crypto.

To prove that the extreme volatility of digital assets discouraged people from investing in it, O'Leary asked Pompliano how much of his wealth he held in cryptocurrencies.

"Over 50 percent of my net worth is in Bitcoin," Pompliano responded.

"I forbid that, that's insane. That breaches everything about diversification and investing. That's crazy!" he told Pompliano.

Pompliano went on to explain why he put over half of his net worth into cryptocurrencies.

Pompliano explained that the negative correlation between Bitcoin and other financial markets was shown when the coin surged 55 percent after the trade war between the U.S. and China escalated in May. At this point, he said in a recent blog post, it was almost irresponsible for institutions not to invest in Bitcoin.

Many on social media criticized O'Leary as being "Condescending" and "Arrogant" while giving out advice on things he "Didn't fully understand." Pompliano, on the other hand, received criticism about being "Too soft" on O'Leary.

It seems the mainstream debate over the merit of Bitcoin continues.