Digital Currency Revolution Series: CEO of Morgan Creek Capital Seems Constructive on Cryptocurrencies, Prefers Bitcoin Over S&P500

The CEO of Morgan Creek Capital came up with notions of cryptocurrencies, he thinks that Bitcoin most likely to extend its outperformance that looks more superior over S&P 500 for going forward in this year.

In an interview with CNBC, the CEO and Chief Investment Officer of Morgan Creek Capital, Mark Yusko, stated that every investor should at least have some Bitcoin in their portfolio.

“I was lucky. I happened to be on Melissa’s afternoon show back in December, the week (Bitcoin) was at $3,150 and she said, ‘What do you think’? I said look, we’ve issued the Morgan Creek Digital crypto challenge. We will take Bitcoin over the next 10 years starting on January 1st, and we’ll take anybody who wants to take the other side – a million dollar charity bet. Just like the Buffett-style bet. We’ve got no takers. 

Now, it’s a good thing they didn’t take it because Bitcoin is up over 100% this year, the S&P is up 14%. I think going forward from here, even over the next 10 years, it’s not going to be close. Bitcoin is a great diversifying asset. It has a very low correlation. It should be in everybody’s portfolio.”

Regardless of risk appetite, the tenor of investment, asset classes and so on, ROI (return on investment) matters at the end of the day.

Bitcoin and some major crypto-peers have side-lined other asset classes when it comes to speculation, majorly because of its luring returns on investments (exponential) earned in the emerging Fintec industry. 

We reiterate the bitcoin’s boom cycles, it might have fallen considerably to where price bottomed back in December 2018 at around $3,100, when bitcoin came on the mainstream public’s radar. Quite a few investors who invested at the peaks of the hype bubble may curse this cryptocurrency for a negative reputation of high turbulence and their money would have been wiped off.

But on the contrary, it’s been compared to a number of other financial assets, including tech stocks and renowned indices like S&P500, and has been regarded as the digital version of gold. Nothing has ever risen as faster and as much as bitcoin did in the recent past. Well, before criticizing the price turbulence, one should understand boom cycles (Sharp upswings and corrective downswings) of BTCUSD that would prompt us that the prices too would ultimately confirm growth in the long-run. Consequently, this has also silenced and suppressed the criticisms of the pessimists who projected that the BTCUSD price tumble and would hit zero levels.

According to the co-founder of Morgan creek digital, Pomp Pompliano, bitcoin has derived returns on investment that is way beyond than any other asset classes, Bitcoin lures investors with a mammoth 457% returns in just last two years.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 92 levels (which is bullish), hourly USD spot index was at -10 (mildly bearish) while articulating at (10:41 GMT). 

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