Morgan Creek CEO Says Every Investor Should Hold Some Bitcoin
Max Boddy's original article for cointelegraph.com reduced by 53%
CEO of Morgan Creek Capital Mark Yusko says bitcoin 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. "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. Yusko has previously been very bullish on bitcoin, going on record predicting a $400,000 high for the cryptocurrency at some point.
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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CN [too long; didn’t read]
Summarised crypto news.