Morgan Creek CEO: Every investor should hold some Bitcoin
- Morgan Creek believes that Bitcoin will outperform the S&P 500 investment fund.
- Mark Yusko, Morgan Creek's CEO, also talked about the "Buffet Bet 2.0".
Mark Yusko, CEO of Morgan Creek Capital, said in an interview that every investor should own some Bitcoins. Yusko believes that investing in Bitcoins will outperform the S&P 500 investment fund over the next ten years. Yusko stated:
"Bitcoin is a great diversifying asset. It has very low correlation. It should be in everybody's portfolio."
Yusko also talked about the $1 million' Buffet Bet 2.0' where Morgan Creek Digital made an open bet that its Digital Asset Index Fund would outperform the SPX from January 2019 to January 2029. The Digital Asset Index fund includes ten major crypto assets along with Bitcoin. The revenue earned from the bet will be donated to charity.
Yusko is highly optimistic about Bitcoins. He has previously predicted a $400,000 high for the cryptocurrency at some point. He said:
"This will change the supply and demand equation for banking. It is that big. I'm not surprised at all that bankers, financiers and Saudi Princes are coming out against it. This is a truly disruptive technology."
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
