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.
</p></p>Read this:
“Selling Bitcoin early.” Mark Yusko has warned cryptocurrency investors
Pension funds doubled cryptocurrency investments through Morgan Creek Capital
When was the right time to sell bitcoin? Never!
Founder of Morgan Creek Digital predicts closure of cryptocurrency hedge funds
Former CFTC CEO: we deliberately burst the Bitcoin bubble in 2017
J.P. Morgan is developing an electronic wallet for JPM Coin