Morgan Creek CEO Mark Yusko has recently weighed in on the ongoing economic fallout that was triggered by rising interest rates and the escalating US-China trade relations. During CNBC’s “Power Lunch”, Yusko stated that he prefers Bitcoin (BTC) to stocks, and voiced a bold prediction that the flagship cryptocurrency could overtake the stock market in a couple of years.
However, Bitcoin, which is widely considered to be a “safe haven” asset, also replicated the bearish sentiment of the broader markets, plunging by six percent. According to Yusko, there is a large portion of Bitcoin holders who jumped on the bandwagon in December, and one should consider putting money into Bitcoin while “these weak hands are folding.”
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