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Morgan Creek CEO Says Every Investor Should Hold Some Bitcoin


Morgan Creek CEO Says Every Investor Should Hold Some Bitcoin

Mark Yusko of Morgan Creek Capital says bitcoin is a great diversifying asset and belongs in every portfolio

CEO of Morgan Creek Capital Mark Yusko says bitcoin (BTC) should be in every investor’s portfolio in an interview with CNBC on May 22.

Yusko remarked that he thinks BTC investments will far outperform the S&P 500 investment fund over the next 10 years.When asked about putting money into BTC, Yusko said:

“Bitcoin is a great diversifying asset. It has very low correlation. It should be in everybody’s portfolio.”

Yusko also recalled his $1 million ‘Buffet Bet 2.0’, in which 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 — not just bitcoin. The proceeds of the bet would reportedly be donated to charity.

Yusko has previously been very bullish on bitcoin, going on record predicting a $400,000 high for the cryptocurrency at some point. In addition to his optimistic prediction, he commented on its potential for disrupting traditional banking and finance:

“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.”

As previously reported on Cointelegraph, bitcoin recently hit a peak of over $8,000. Bitcoin is currently trading at $7,902 and is trending up by 2.76% at press time, according to data from CoinMarketCap.

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