Put your money where your mouth is right?
Well that is exactly what Morgan Creek Digital, an institutional cryptocurrency and digital asset fund, is doing.
Morgan Creek says that crypto assets will out-perform the S&P 500 over the next 10 years and they are putting up $1 million against anyone that disagrees.
Specifically, Morgan Creek is challenging anyone that says cryptocurrenies are worthless or significantly over-valued to put their money where their mouth is.
Does that sound like anyone you might have read about in the news over the past several months?
Some specifics:
The crypto assets that Morgan Creek is betting will outperform is a crypto index fund managed by Bitwise Asset Management.
The fund currently holds bitcoin, ethereum, bitcoin cash, EOS, litecoin, monero, zcash, dash, iota, and NEM.
The bet itself will be structured similar to the one Warren Buffet made back in 2008 when he said that buying the S&P would yield better returns than investing in hedge funds over the next 10 years.
A bet that he recently won by the way.
Given how strongly he feels, perhaps Mr. Buffet will take this bet with Morgan Creek?!
Why the confidence?
Morgan Creek Digital founder and partner Anthony Pompliano said that the firm is confident in cryptocurrencies’ performance outlook across the next 10 years, especially when compared to public equities:
“Bitcoin and crypto outperformed over the last 10 years and we believe that will not change moving forward for the next 10 years. Though, we are definitely not going solely off past performance."
(Source: https://www.coindesk.com/morgan-creek-digital-is-betting-1-million-that-crypto-can-beat-the-sp-500)
Stay informed my friends.
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