In the recent interview with CNBC, the head of Morgan Creek Capital Management, Mark Yusko, said that in the long-term perspective bitcoin (BTC) has all chances to gain 20x upside, highlighting that BTC is one of the few asset classes with an asymmetric risk profile.
Morgan Creek is a SEC-licensed investment management firm, which is providing invest consulting and financial services both to institutional investors and family funds.
Top hedge fund veteran @MarkYusko admits he was wrong about #bitcoin, but he still calls it a long-term buy. pic.twitter.com/S3wqP4EWWy
— CNBC's Fast Money (@CNBCFastMoney) November 27, 2018
Moreover, the Head of Morgan Creek said he loved bitcoin for its long-term possibilities, though he sees these days a lot of pressure pushing bitcoin to the bottom.
Still, Yusko admits that forecasting of cryptocurrency price is quite tough thing, so the picture should be brighter in a one year-term perspective.
In fact, bitcoin has all chances to set a new record, despite the current bear market. Previously, Constance-based investment group XOLARIS launched first regulated bitcoin mining fund in Germany for international investors.
Earlier, Morgan Creek Capital announced that the Chapel Hill, North Carolina-based firm was seeking to raise up to $500 million to start a new hedge fund focused exclusively on cryptocurrencies and other blockchain-related investments.
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