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Morgan Creek Digital is looking for a cryptic opponent willing to put their money where their mouth is.
The crypt management company for institutional investors states that it will bet $ 1 million that its cryptic index will beat the S & P 500 in the next decade. It is a turning point on a similar bet by Warren Buffet, who won a million in 2007 by betting that the S & P 500 would beat a group of hedge funds.
Morgan Creek co-founder Digital Anthony Pompliano told CNBC that there are more reasons why the company is looking for buyers.
"This is a combination of our perspectives not only for the positive side of cryptocurrencies, but also for the prospects for public stocks – a lot of people could watch it and think we are confident about crypto – but we need to look at what asset we are going The public actions are not exactly at their historical maximum. "
The S & P 500 has lost almost $ 755 billion today.
This is more money lost in a single day for public equity investors than all cryptic investors put together this year.
Mathematics does not lie! 🤷🏽♂️
– Pomp 🌪 (@APPLANT) December 4, 2018
Morgan Creek Digital offers its cryptographic index through a partnership with Bitwise Asset Management. The fund is 77.4% of Bitcoin and 11.1% of Ethereum. The rest is distributed on eight tablecloths.
Morgan Creek says its partners are funding the $ 1 million bet.
The company says it intends to donate the proceeds to charity and expects everyone who decides to make the bet to do the same.
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Disclaimer: the opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and operations are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital assets, nor The Daily Hodl is an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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