According to Morgan Creek Capital CEO Mark Yusko, amid the declining market for traditional assets, Bitcoin "could become a hedge against chaos."
"We are now seeing the largest credit bubble in history. I think that soon the whole world's traditional financial system will begin to crumble. This issue has been discussed since last fall, when markets began to demonstrate the behavior of 2000-2002. In 2001, there was a slight recession, but in 2002 the bubble burst and swallowed up companies such as Enron and WorldCom. I think that the same thing is starting to happen, as there are so many over-credited companies in the world,"Yusko said in a conversation with CNBC.
"People who are watching the daily price of Bitcoin are really missing the whole point. This is a hedging tool or fraud insurance, as I like to call it. Each year, the minimum Bitcoin is always higher than in the previous one. To date, fiat and stock markets have accumulated a lot of problems and risks that need to be hedged. That is why it is necessary to strive to own a part of the Bitcoin network. At least 1-5% of the capital of any investment portfolio must be accounted for by Bitcoin."
Yusko previously stated, "Every investor must have Bitcoin in his portfolio," and that "Bitcoin will easily rise to the range of $ 50,000- $ 100,000 by 2021."
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