Rajarshi Mitra
Independent Analyst
- Bitcoin price is up by about 111 percent in 2019 while the stock market is up by just 12%.
- Morgan Creek’s Mark Yusko believes that BTC can be a great portfolio diversifier.
Morgan Creek’s Anthony Pompliano tweeted on Friday that Bitcoin price is up by about 111 percent in 2019. However, the stocks have risen only 12 percent within the same period. BTC has reportedly added $2000 between April and May to its market price. Pomp tweeted:
"Stocks are up 12% in 2019. Bitcoin is up 111% in 2019.#GetOffZero and get in the game. "
Bitcoin’s 2019 run has been so impressive that eToro’s Mati Greenspan stated:
"At this point, a $200 move in the price of Bitcoin could easily lead to a move of $2,000."
Billionaire venture capitalist Tim Draper identified the rise of investor fatigue for some of the companies like Uber that have newly gone public. On the other hand, Bitcoin bulls do not foresee any price fatigue for the top-ranked cryptocurrency by market capitalization. Mark Yusko, the Managing Director of Morgan Creek Capital Management perceives BTC as a great investment portfolio diversifier. He added that Bitcoin is a better investment bet than stocks.
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