Mark Yusko, the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management, a hedge fund with more than USD 1 billion in assets under management, is a true a bitcoin believer.
In this interview with Cryptonews.com, Yusko talks about the opportunities he sees in the blockchain technology, the future of cryptocurrency, and the bitcoin-based exchange traded fund (ETF) approval saga.
interviewer
***You’re a Bitcoin bull and blockchain technology believer. What attracted you to the technology and what’s your view on the future of crypto?
he says ,
I think that the blockchain technology is the natural evolution of the technology cycle we've been in since the 1950s. There's a fourteen year cycle that occurs around significant innovations related to computing power. So, in 1954 we had the mainframe and in 1968 we had the microchip, in 1982 we had the personal computer, in 1996 we had the internet, in 2010 we had the mobile net, and in 2024, I think, we'll have the internet of value. The internet of value is really going to be driven by blockchain technology. So blockchain technology is again the evolution of directing computing power toward these related technologies that have cryptography, distributed ledger, trust, etc. And blockchain allows us for the first time to treat ownership and value things like money and property and business ownership in a digital format.
Mark Yusko, the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management, a hedge fund with more than USD 1 billion in assets under management, is a true a bitcoin believer.
In this interview with Cryptonews.com, Yusko talks about the opportunities he sees in the blockchain technology, the future of cryptocurrency, and the bitcoin-based exchange traded fund (ETF) approval saga.
***What’s your view on the attempts to launch a bitcoin ETF in the U.S.?
When it comes to approving or not approving a bitcoin ETF, their [The U.S. Securities and Exchange Commission, SEC] concerns on custody, the potential for hacking have still not been addressed. So I understand they're concerned about that.
If you look at the Blockchain ETFs, they're basically just index fund and that is a silly idea. A Bitcoin ETF is actually an interesting idea because it will democratize access to this asset. I give a standing ovation to the SEC over the past couple of years, as they've approached regulating and investigating this nascent industry and I think they've done everything right. I think they have been prudent, disciplined and consistent.
My own personal opinion is that the SEC is unlikely to approve something on August 10th