Mark Yusko expressed his approval of Bitcoin with the hope that Bitcoin investment would surpass the S&P 500 investment fund in the next ten years. Morgan Creek Capital’s hedge fund, Morgan Creek Digital, recently raised about $40 million towards a new venture capital fund, Morgan Creek Blockchain Opportunities Fund. The fund would provide for investments and financial assistance in the blockchain and crypto world.
Mark Yusko’s Undying Fascination with Bitcoin
On being asked about Bitcoin investments, Yusko said that Bitcoin stands true to its name of being an excellent diversifying asset. The cryptocurrency’s low correlation property makes it a must-have in the portfolio of every investor.
Mark Yusko’s ardent fascination with Bitcoin isn’t new. In the recent Bitcoin price surge, he predicted the cryptocurrency’s bullish trend to go on till $400,000. As of now, the cryptocurrency has hit its peak index at $8000. Its current trading value is at $7,902 and is increasing at a rate of 2.76%.
Yusko has also been extremely vocal about Bitcoin’s potential to dismantle traditional modes of banking and finance.
Mark Yusko’s million dollars “Buffet Bet 2.0” is a tale of its own. Morgan Creek placed an open bet against S&P stock market index claiming that the company’s Digital Asset Index Fund would surpass SPX’s over the next ten years from January 2019 to January 2029. Interestingly, Yusko’s take on Bitcoin is in sharp contrast with other financial experts like Warren Buffett, who recently called Bitcoin a seashell that does nothing. The crypto and financial spheres seem to be divided in determining the true potential of the digital currency, which grows stronger by the day.
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