- It pretty simple, just “put one percent of your assets in Bitcoin as digital gold,” – Mark Yusko
- Bitcoin and blockchain will make the “first 10-trillion-dollar company and the first trillionaire”
Hedge fund manager Mark Yusko, the CEO of Morgan Creek Digital wants you to dump Amazon stocks and just keep on buying Bitcoin.
During the Digital Asset Summit, Yusko who was a guest speaker at the event has just one piece of advice for you and it is investing in Bitcoin.
“What we’ve been telling institutions is pretty simple. Folks, you’ve got to put one percent of your assets in Bitcoin as digital gold. It’s way better than gold.”
Sell Amazon the “Dead Money” and get into Bitcoin
According to him both bitcoin and blockchain will be making the “first 10-trillion-dollar company and the first trillionaire.” So, buy while you can and as much as you could as Bitcoin is not only the next groundbreaking technology but also the best wealth creation opportunity out there.
Moreover, he wants you to sell all your Amazon stock, AMZN is currently trading at $1,753.11, down from it's all-time high at $2,011 hit in July 2019, because they are “dead” and invest all that money into the leading cryptocurrency.
“Get rid of Amazon. Slide-out quietly, no one will pay attention. Sell it. Amazon—dead money for a decade.”
As for the blockchain technology, he has this to say,
“The genie is not going back into the bottle. It’s coming. The great news about that is it’s going to create the greatest wealth in the history of mankind.”
New Technological Evolution to Replace Google & Amazon
During the speech, Yusko compared the early days of the Internet with that of the current technological development of digital currencies and blockchain.
But Web2 is no longer the best opportunity to make it big or get rich. As such he advises selling the “dead” Amazon (AMZN) stocks because he says it would take decades to get even a 10% return on investment on them. But Bitcoin, Yusko said, is a much attractive offering.
“Think about the wealth that was created, companies like Google and Amazon—they’re all going to be disrupted and they’re all going to be replaced with this new technological evolution, but it’s early.”
Once the technology is ready, “that doesn’t even start until 2024”, he says first trillion-dollar companies would come from this space because “what we’re doing is fundamentally changing the way we exchange value.”
Web3 he says should be called “trust net” as blockchain’s use case is about “trust” and Bitcoin does it for money. “Every asset in the world is going to get tokenized,” he added.