Every Investor Must Have Bitcoin, Says Morgan Creek CEO
Mark Yusho, CEO of Morgan Creek, has said that Bitcoin is an asset class that every single investor must have exposure to.
The comments came in a recent appearance on CNBC along with Espresso Systems’ Jill Gunter. Both Gunter and Yusho expressed bullish sentiments about Bitcoin, with Yusho going so far as to say that the crypto winter is now over and the market is entering a new crypto spring.
Must have Bitcoin
Gunter and Yusho appeared CNBC as part of a special segment called Return of the retail trader, which discusses a so-called crypto comeback among retail traders. For the two experts, retail had never gone away.
“Retail has always been important to the crypto markets,” Gunter said. “Retail saw it before the institutions had the guts to get in, and retail is going to stay in it through the ups and downs.”
The host then went on to ask Mark Yusho, Morgan Creek’s CEO, if Bitcoin was a place investors wanted to be “from an institutional leader’s standpoint.” The head of the institution could not have been clearer in his answer.
“This is an asset that every investor must have in their portfolio,” Yusho said rather emphatically. “Bitcoin is the most effective asset over two years, over three years, over five years, over 10 years, and over the lifetime of its existence – all 14 years.”
Morgan Creek’s Yusho says crypto winter is over
Yusho went on to state that the crypto winter ended in mid-June and that we are now in the crypto spring.
His short- to medium-term forecast was for a “volatile period with an upward bias” followed by another short-term crypto summer where retail investors would flood into the market.
The asset with the best results
Despite the enormous success of Bitcoin, measured against other assets and other asset classes, there is still some resistance to it in some quarters. Yusho puts this down to a fear of volatility and an aversion to risk.
In a final summary, Gunter was asked about her best advice to avoid major pitfalls in the market. She says investors should remind themselves which altcoins have “institutional investor lock-ups” and remind themselves when those lock-ups end.
Gunter also expressed concern about coding penalties in an oblique reference to Tornado Cash.
“SEC [Security and Exchange Commission] is not the only game in town that we need to look at in terms of the risk on a very existential level for cryptocurrency,” she said.
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