Morgan Creek bets $1 million that crypto assets will beat the S&P over the next 10 years
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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Sounds like rolling the 🎲 to me 🧐
You got a million to bet?
Interesting vibe when market is down, give a bit of hope
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Seeing a nice bounce today as well.
There is a big problem in this bet.
Although it is almost sure bet, where do you bet?
Crypto-currencies are about to get out of the beginning phase and start the early adopter phase. (there is a chasm here that eats many technologies) But, once its crossed this chasm, than adoption will encompassing moving all the money in the world.
At the same time, the S&P 500 are made up of two types of companies.
Those that are going to crash, burn and die
and those that are going to be the govern-cements of the next decades.
Basically companies that handle govern-cement infrastructure are going to take over for the govern-cements. Just because they will be that much more powerful.
BigPharma is about to fall over and die. It will soon be shown that what they are doing is hurting, killing and keeping people sick for profit. After that point, money will flee the sector, while obese patients use up more and more resources.
BigAg is about to die. As they have destroyed the farmlands and all the waterways around them. Along with the ice-age food production per acre is going to drop precipitously. Add in the economic troubles and Monsanto becoming public enemy #1, and this industry is going to collapse.
So, this is a sure bet.
But, which coins will make it through the next 10 years?
All of the coins will be drastically different.
And what will automic swaps do? Will it make most coins ubiquitous?
Good points in there. Though, for the bet it looks like he is just talking about his specific basket of crypto assets outperforming the S&P 500. Interesting to see if any big names take him up.
that is chump change compared the the money that will come in
Correct. It is not a large bet in the grand scheme of things. It was more to mimic the bet Warren Buffet made 10 years ago.
It is really encouraging to be involved and stay with crypto. :)
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That guy is always on point! I think the crypto market will outperform 10 years of S&P performance in the next two years alone! Can’t wait to see if anyone is brave enough to take that bet!
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Buffet should, hopefully he does. Though he may not be able to see it all the way through. He is getting up there in age.
Maybe he can bet against Nouriel Roubini. But i don't know if he would dare to put his money where his mouth is.
Yea Roubini probably won't. He would rather just bash something and try to kill it so he can say 'I told you so', than actually put any money to work.
wouldnt bet against them if they covered half my losses lol
first platform BAAKT goes up december 12th and from there they will keep coming
cheers everyone hope all is well
They had to delay their launch a bit actually. I believe the new date is Jan. 24th.
i was just reading that after i left the post and by the time i got back to let you know
well you let me know lol thanks man have a good evening
Hope Bitcoin moves up and onward soon :) Added you to my Eyecatcher #2 Post.
Enjoy the week ahead too.