On May 22, Mark Yusko, who is the CEO of the investment advisory Morgan Creek Capital, said in an interview that every investor should include some Bitcoins in their portfolio.
Yusko further made a bold prediction during the same interview. He said that he expected that, in the next decade, Bitcoins would not only outperform the S&P 500 but that it would significantly outperform the S&P 500.
During the interview, Yusko also stated that he thought that Bitcoins were a really good means for creating diversification in an investment portfolio. He said that the reason this is true is because Bitcoins have a very low correlation with other asset types. This is why he believes that they should be in every investment portfolio.
Yusko is a man who is willing to put his money where his mouth his. He also mentioned in the interview how his company Morgan Creek Digital bet $1 million that its Digital Asset Index Fund — from a period beginning in January of this year to January of 2029 — would beat the S&P 500 Index, which is also known as SPX. The bet has been dubbed "Buffet Bet 2.0," after a similar $1 million wager Warren Buffet recently won, in which he bet that the S&P 500 would outperform a set of hedge funds over the course of a decade. Yusko has said that the proceeds of the company's bet would be given to charity.
The Digital Asset Index Fund includes more than just Bitcoin. It also includes 9 other leading digital currencies, which are often referred to as alternative currencies.
Yusko has long been a supporter of Bitcoin. He once famously predicted that it would one day reach $400,000. He has also stated that he believes that the currency will disrupt multiple sectors, especially finance and banking. He thinks that this is why so many bankers and financiers are against it, as it has the potential to fundamentally change supply and demand in the banking industry.
Recently, Bitcoin surpassed the $8,000 mark. Though it is currently trading just a little under that after rising nearly 3%.