June 18, 2024

Morgan Creek Capital CEO: Sell Amazon Stocks, Buy Bitcoin

Mark Yusko said that it is more profitable to invest in digital money than in securities of large technology companiescompanies.

Amazon shares need to be sold, it is “dead”money ”for a decade, Morgan Creek Capital chief executive Mark Yusko said during the Digital Asset Summit 2019 summit. The head of the hedge fund believes that it should invest in Bitcoin, Decrypt reports.

"Get rid of Amazon stocks ... it's dead moneyfor a decade. We advise institutional investors to keep at least 1% of their assets in Bitcoin - this is digital gold. Even better than gold, ”Yusko explained.

He compared Bitcoin with Google in the earlieststages of its existence. Morgan Creek Capital invested $ 5 million in a search engine in 1996 when it was the 16th most popular, which brought the fund $ 200 million in profit. People did not invest in this project because they did not understand technology, Yusko emphasized.

According to him, do not worry about problemsBitcoin scaling. The first cryptocurrency is at a basic level, just like TCIP for the Internet used to be, the expert said. He added that 2024 will be a year of technological development.