Crypto Can Beat The S&P – Morgan Creek

Morgan Creek

Morgan Creek Digital is betting a total of $1 million that the crypto will beat the S&P 500 in the coming ten years. Morgan Creek Digital is an institutional manager with a great focus on digital assets and the cryptos.

The Cryptos Are Not Worthless’ Says Morgan Creek

The future of the virtual currencies has been a topic of discussion lately. However, Morgan Creek Digital holds a different opinion when it comes to the future of digital assets. They strongly believe that the cryptos still hold certain great values. Morgan Creek Digital is now throwing a challenge to any professional investor or company that thinks the cryptos are worthless. The challenge is also extended to those who believe public equities are a better bet. They are therefore asked to prove that with a long-term bet against the Digital Asset Index Fund. This is a digital asset index fund that is controlled by Bitwise Asset Management.


More About The Bet

This bet will be structured to appear like the well-known Warren Buffet bet. It has started in 2008 when Warren Buffet, a billionaire investor placed a bet of $1 million. He had predicted that investing in an S&P 500 index fund would witness a greater result as compared to investing in hedge funds. At the beginning of this year, Buffet won his bet. Morgan Creek Digital is now doing the same thing. The firm is betting that an index fund containing various cryptos will outdo the S&P 500 in the next ten years. The digital coins include Ethereum, Bitcoin, EOS, and Bitcoin Cash. The others are NEM, Iota, Dash, Zcash, Monero, and Litecoin.

Confident About The Performance Of The Cryptos

Morgan Creek Digital is so confident in the performance of the virtual currencies across the coming ten years. This was according to an email written by Anthony Pompliano, the founder and partner of Morgan Creek Digital. According to the firm, the digital currencies have shown a steady performance over the past ten years. Therefore, they have a great potential and would outperform in the coming future. Anthony Pompliano also noted how the fundamentals of Bitcoin would support its growth as an asset division. Even though Pampliano’s post just outline Bitcoin, the entire team have similar views for the entire crypto market.

Details About The Bet

Anthony had earlier hinted that the main fundamentals of Bitcoin would support its growth. These fundamentals include the number of nodes that would help the network is growing. They also include the number of wallets that are needed to support the network in achieving its main vision. Pompliano also stated that the likely candidate would strongly believe in public equities. Alternatively, they could also be very bearish on the whole issue of the crypto assets. The bet is expected to kick off on the 1st of January 2019. It will run through 2029. Therefore, it would take a whole decade as new market trends are observed in the crypto industry.


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