June 18, 2024

Morgan Creek Capital CEO advises buying Bitcoin and selling Amazon shares

Morgan Creek Capital CEO advises buying Bitcoin and selling Amazon shares

Morgan Creek Capital CEO Mark Yusko attended the Digital Asset Summit. DuringIn his speech, he advised investors to sell Amazon shares and buy Bitcoin (BTC) cryptocurrency.

Yusko believes that technology of distributed basesdata has high potential, so Morgan Creek Capital invests in startup blockchain through its subsidiary Morgan Creek Digital. Mark compared cryptocurrencies and blockchain to Google, in which Morgan Creek Capital invested $ 5 million in 1996. At that time, the organization occupied sixteenth place in the ranking of popular search engines, and few financiers believed in the success of the company. However, now Google is on the first line in the list of the most popular search engines in the world, significantly ahead of its closest competitor Bing. Bing.com.

According to Yusko, investors need to get rid ofAmazon securities because they will not generate significant profits over the next 10 years. He notes that shares of the online store may be of interest to investors who want to earn about 10% of the investment amount. The director of Morgan Creek Capital is not satisfied with this size of dividends, so he called Amazon shares “dead money.”

Bitcoin, unlike securities, givesunique opportunities for investors due to the high level of volatility. An example of the profitability of the coin trade is the last pump of the BTC rate, which took place from October 25 to 26. For 12 hours, the value of the coin increased by 36%, and traders earned the maximum daily profit since 2011. According to Yusko, companies like Amazon and Google are on the decline, with the future in virtual currencies and blockchain. Mark noted that distributed database technology and digital assets are part of the initial phase of a new technological evolution, and Bitcoin could be the first asset with a capitalization level of $ 1 trillion.