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.
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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