Bitcoin Is Vital to Have for Financial Institutions: Morgan Creek Capital CEO

Libra Coin News
Fri, 10/04/2019 - 12:17
Yuri Molchan
Mark Yusko believes that crypto assets and Bitcoin in particular are necessary for institutional investors to embrace when speaking about Bitcoin and pension funds
Cover image via www.morgancreekcap.com
Contents

High-end crypto investors keep promoting Bitcoin, promising high returns in the future, often mentioning that it cannot be manipulated or printed extra unlike fiat money during the recent Fed Reserve QE moves.

The head of Morgan Creek Capital fund, Mark Yusko, believes that Bitcoin is an absolute must for institutional investors to acquire. They have to is to ‘get off zero allocation to crypto and Bitcoin in particular’, as per him.

 

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Yusko supports Pompliano on Bitcoin and pension funds

Yusko tweet came as a response to an earlier statement of Anthony Pompliano from Morgan Creek Digital, in which ‘Pomp’ stated that US pension funds will be unable to conduct pension payouts to all of their customers in the future, basically hinting that they should all invest in Bitcoin, despite its volatility.

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Bitcoin to hit $16,000 in October 2019

A curious message from BitcoinTalk forum has emerged on Twitter. It offers Bitcoin price predictions until July next year.

The screen of the post says that currently, the market is bullish and that now the Bitcoin rate is going to rise, according to charts and technical analysis.

Thus, in October 2019, the author of the post expects Bitcoin to surge to $16,000. In February next year, BTC will assumingly hit $29,000 and in July 2020 - $56,000.

As per this scheme, in November next year, Bitcoin will be worth only $87.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.