Wealthy families with time continue to exude great confidence in the services provided by Morgan Creek Capital Management, LLC. They are not the only ones that believe in solutions provided by this top-notch investment adviser. There are also other top institutions indicating great trust in its services. Morgan Creek startles many today with its announcement. It wants to bet $1million as proof that indeed crypto has what it takes to beat S&P 500.
The bet
This institutional manager usually pays a great deal of focus on a wide range of digital assets and crypto as well. The recent resolution to place $1 million in the form of a bet takes quite many by surprise. However, but we just have to wait and see. An official working with it in a recent statement exuded great confidence. He outlined that the next 10 years would come with significant change.
The asset manager comes out as rather determined and moves ahead to pose a challenge to all the success-oriented investors. It fights off the misleading perception that cryptocurrencies are ‘worthless.’
Reports indicate that the bet goes with a definite structure. It shares an almost similar structure to the outstanding Warren Buffett bet. The bet dates back to 2008 which is the exact year that billionaire placed a $1 million bet. At the moment, he termed investments in S&P 500 to be much better than the ones in directed into the hedge funds.
A closer outlook
It was at the beginning of this particular year that the billionaire investors woke up to great news! The business guru won the bet. Morgan Creek Digital places its bet with confidence that an index fund bearing cryptos outperform S&P 500.Some of the most common cryptos include zcash, dash, bitcoin, ethereum, iota , NEM, EOS and litecoin.
Anthony Pompliano who happens to be the Morgan Creek Digital founder and a partner as well sent out an email. He addressed the email to CoinDesk indicating the firm’s outstanding confidence in the performance of cryptocurrencies. He indicated that the next 10 years would pull along with significant changes.
