Speaking at the Digital Asset Summit conducted on 13th November 2019 the CEO of Morgan Creek Capital Mark Yusko suggested that the only way to become a trillionaire is to forget everything else you own and buy Bitcoin.
Bitcoin’s ten-year journey has been nothing less than a roller coaster ride. From being rebuked for acting as a potential source for money laundering and terrorist financing cases to being recognized as the first decentralized cryptocurrency that has the potential to make history, Bitcoin has seen it all. After Mark Yusko’s keynote speech, it appears that Bitcoin’s journey is far from over. In fact, according to him, it is about to get more thrilling.
Bitcoin is the next Google, Morgan Creek Capital CEO
Yusko’s advice may seem overly contentious yet straightforward; however, the hedge fund veteran is, in fact, quite clear with his thoughts. Bitcoin is the next big thing, and those who invest in it are likely to see good fortunes. Yusko, who is also the CIO and founder of the investment management firm Morgan Creek Capital, was in no mood to hold back his bullish optimism on the world’s most popular digital asset, however, sounded quite contrary when it came to everything else.
Comparing Bitcoin’s fortunes with Google, Yusko mentioned that his firm believed and invested in Google’s potential back in 1996 when it was only the sixteenth most used search engine. At the time, nobody knew that it had one of the brightest and most robust algorithms we have today. That investment turned into a massive two hundred million US dollars ($200 million) today, he asserted.
That said, he also deduced that Web2 is no longer a prosperous opportunity. Yusko further went to advice that it is best to get rid of Amazon shares as it is dead money and could take as much as a decade to fetch just ten percent (10%) return.
Call it overestimating the power of Bitcoin or just an accurate soon-to-come-true projection, Yusko is convinced that Bitcoin has the potential to disrupt companies like Google and Amazon and emerge as the next significant technological evolution.
And for those who are apprehensive about Bitcoin’s scalability, he advised them to fret not and believe in the technology. What TCIP was for the internet, in the same manner, Bitcoin’s scalability will be addressed sooner or later, and when it is done, it will be a precious asset, he added.
Who wants to be a trillionaire? Buy Bitcoin
Taking his positive optimism a step further, Yusko also proposed that Bitcoin will generate massive wealth for its investors in the future. Don’t be surprised when you realize that the first ten trillion dollar companies and first trillionaire are results of successful investments in this space, he declared.
Per Yusko, invest one percent of your assets in digital gold – Bitcoin and wait for it to flourish. Give it time till 2024 – the year the technological evolution will arrive, which Yusko termed it as trust net. And as far as the certificate of authenticity is concerned, that’s where blockchain comes into the picture. Thanks to this technology, every asset in the world will get tokenized, Yusko concluded.
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