Famous American comedian Bill Burr is the newest convert to the bitcoin investment business. Burr said he’s dissatisfied with the conventional banking system and what would happen to his money in case there’s a severe financial crisis.
Bill Burr made the exciting revelation during an episode of the Bill Bert Podcast while talking Anthony Pompliano, co-founder of Morgan Creek Digital Assets. The bitcoin enthusiast enlightened his hosts on matters of money and how it works. Pompliano clearly explained how banks couldn’t protect some of their clients of over $250,000 from the Federal Deposit Insurance Corporation (FDIC).
Use His Money Make Profits
Pompliano’s responses resonated with Burr whose net worth is close to $12 million. Burr realized he could quickly lose a considerable chunk of his savings should a financial crisis hit the banks. According to the comedian, he has experienced “unqualified” bankers use his money to make profits for their institutions. Burr said he was also troubled about how bankers had inflated the housing market before he revealed he had trained his eyes towards buying bitcoin. Burr lamented:
“You create this whole f… bubble and when the whole thing goes to s… you still get a f… bonus and you’re only gonna give me 250 off my million bucks? How is that f… legal? I’m getting Bitcoin!”
Pompliano explained to Burr and his co-host Bert Kreischer on the workings of the financial system inflation, the history of cryptocurrency, among other financial topics. He mentioned cases such as Venezuela where super inflation has turned people to bitcoin; and now Lebanon. That Burr has had many run-ins with banks has been a common theme is some of his podcasts in the past. For instance, he is not happy about exorbitant banking fees as he complained in a past podcast:
“You know what my bank did to me? […] I walked in. I had this account in New York, a little checking account. Had a little bit of money in it. All the sudden I notice they’re taking some fees out. That shouldn’t be. I get to New York, talk to the douchebag who works there […] Yeah, they’re taking $27 a month out. Here, let me check to see what’s up. Yeah, we shouldn’t be doing this.”
Has Good Company
Interest in Bitcoin and cryptocurrencies has spiked tremendously in recent years. Since its start as a relatively obscure digital currency in 2008, it peaked in 2017 at over $19,000 per coin, prompting some analysts to question its inherent value in an investment portfolio. There has been more interest in the recent COVID-19 issue that crashed stock markets and resulted in lockdowns causing massive unemployment. Burr has good company in joining the cryptosphere including lawyers in four American cities who now accept it as a form of payment.