Now, everyone is sick of hearing speculations on BTC price, we have grown out of it, not a tall enticed to invest in major cryptos with the advent of this harsh crypto winter. So, let’s take a break from crypto crash thoughts and get a nice dose of crypto entertainment and it won’t take any money from you, no sweats.
There is a bold bet going to be placed out there with a 1 million $ amount placed aside for it and it’s not related to Augur’s betting platform, but it’s inspired by a legendary bet set by the world’s popular big investor - Warren Buffet. The newest upcoming bet is named after that decade old bet made and won by Warren Buffet, it’s called - “Buffet Bet 2.0” .
The old bet placed on 2007, involved Warren Buffet confidently predicting that S&P 500 index (comprising stocks of America’s big 500 companies listed for public trading) would beat the performance of a batch of hedge funds in the next 10 year period finishing 2017. So, last year Buffet won the bet and donated the winning amount to charities.
Now, the new age bet “Buffet Bet 2.0” has Morgan Creek Digital placing a wager that their crypto index fund comprising of 10 top cryptos - Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Monero (XMR), Zcash (ZEC), Dash (DASH), NEM (NEM) and IOTA (MIOTA) would do better than the S&P 500 in the next 10 years. Search is on for someone who is super bullish about S&P 500 or super bearish on cryptos to bet against them.
Right, 10 years is a long time!!! …
I not taking bets, (can’t afford too) , but … there is lot of growth waiting to happen in the crypto sector, lots of usage adoptions of cryptos would happen in future, so my stance on the long run is crypto index would outperform S&P 500 in 10 years.
A common piece of advice for those just planning to invest on cryptos, just invest what you can afford to lose, and invest on cryptos that have good fundamentals. I see these cryptos blossoming next 2 year frame - IOTA, DIGIBYTE, ADA, DOGE, VCHAIN, NEO, QTUM and BNB more than ETH, BTC, XPR group. However, lets see. I would stay away from Verge, EOS coins for sure. Other major coins Monero, Zcash, ETH, BTC, Dash seem would grow with more use of these currencies. I would also say XRP and Stellar, but… again doubt on them until SEC or the court declares those cryptos as not security. Next year, would make my own index of funds of 100 dollars accumulated in 3-6 months and invest in my own set of funds, but again I am not keen(: ...anyway, the bet discussed above would be place on Jan 1st 2019, next year.