Morgan Creek’s Mark Yusko: “Bitcoin is a Great Diversifying Asset, Every Investor Should Own BTC”
- Yusko had previously predicted that Bitcoin will scale up to a price point of $400,000 in the next 5-10 years.
- Not only that, but he is also of the belief that every investor should seriously consider putting some of his/her money into Bitcoin.
During a recent interview with CNBC’s finance crew, Morgan Creek Capital CEO ‘Mark Yusko’ stated that BTC is a digital currency that should ideally be owned by every smart investor — since it has such a massive financial upside.
In this regard, he also added that Bitcoin investments will most likely
“outperform today's existing S&P 500 investment funds over the course of the next decade or so.”
On the subject, Yusko then went on to add:
“Bitcoin is a great diversifying asset. It has very low correlation. It should be in everybody’s portfolio.”
More On The Matter
During the course of the interview, Yusko spoke about his $1 million ‘Buffet Bet 2.0’ — which was basically an open proposition to anyone who thought that the SPX would outperform Morgan Creek’s Digital Asset Index Fund between 2019-2029.
At this point in the article, it should also be pointed out that the above stated Digital Asset Index fund comprises of 10 premier altcoins — including BTC, ETH, etc.
Lastly, Yusko has time and again spoken about Bitcoin’s disruptive potential and how the asset can change the way in which traditional banks and lending institutions work.
“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.”
In closing out this piece, we need to point out that at press time, BTC is trading around the $8,000 mark — with the currency exhibiting a 24-hour gain of around 2.76%. It now remains to be seen what the future has in store for the flagship crypto asset.